New Delhi, Mar 10 (KNN) Exports from India will reach USD 760-770 billion in the current financial year, said Union Minister for State for Commerce and Industry Anupriya Patel said on Thursday.

India’s exports in FY22 had touched USD 672 billion as service sector had hit a record USD 250 billion.

Addressing a Sourcex India in New Delhi, Patel said, "We are focusing in every possible way on how we can export more and more because today India's share in global merchandise trade is close to 1.8 per cent.”

“As far as services trade is concerned, it is just 4 per cent. We want to take it to 10 per cent," she added.

The minister also mentioned that the Indian economy is one of the fastest-growing economies in the world, and with the increasing globalisation of trade, there is immense potential for Indian businesses, particularly brands to expand their footprint in the international market.

Speaking on the occasion, A Sakthivel, President of Federations of Indian Ecports Organisations said, "Last year, we did USD 672 billion in goods and services (exports). This year, we will do USD 770 billion.”

The Sourcex India event is aimed at promoting Indian brands in the international market, which is a significant step towards realising Prime Minister Narendra Modi's vision of making the country a global manufacturing hub, he added.  (KNN Bureau)