3 weeks ago

India targets $1 trillion exports as shipments grow 15 percent

India targets $1 trillion exports as shipments grow 15 percent
India targets $1 trillion exports as overseas shipments rise 15 pc in first four months: Piyush Goyal · thestatesman.com

India wants to sell more of its goods and services to other countries.

Last year, India sold a record $863 billion worth of things to the rest of the world.

This year, India hopes to sell even more — $1 trillion worth.

In the first four months, India's exports grew by about 15%.

A minister named Piyush Goyal announced this at a big trade event.

India has also signed nine trade agreements with other countries.

These agreements give Indian businesses easier access to foreign markets.

The minister wants businesses to use more technology and follow fair and sustainable practices.

He believes India's economy could grow much bigger by the year 2047.

Key facts

Export target
$1 trillion for the current financial year
Export growth (first 4 months)
About 15%
Previous year's exports
$863 billion (record)
Merchandise exports
$442 billion
Services exports
$421 billion
Export growth over six years
Nearly 73%
FTAs concluded in four years
9
Combined GDP of FTA partner economies
Around $60 trillion

Quotes

Piyush Goyal

India’s Commerce and Industry Minister

“"Taking 863 to one trillion is a big jump," he said”
thestatesman.com

Sources

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