India's Merchandise Exports Can Hit $400 This Year Says Piyush Goyal
The recent performance of exports gives a hope that an ambitious target of $400 billion merchandise exports can be achieved this year, stated Union Commerce and Industry Minister Piyush Goyal. Goyal complimented the Exporters for their encouraging performance, even during such trying times. He noted that India's merchandise exports in April 2021 was USD 30.21 billion, an increase of 197.03% over USD 10.17 billion in April 2020 and an increase of 16.03% over USD 26.04 billion in April 2019.
He said that the value of Export in the first week of May 2021 is also up by almost 9% over the same period of 2019-20 (6.48 billion USD). He said that Export excluding POL, is even better, and has increased in this period by 15% over same period of 2019-20. He said that performance of exports in April'21 and 2020-21 gives a hope that an ambitious target of $400 billion merchandise exports can be achieved this year. There is a large potential for enhancing exports in several sectors like Pharma, Engineering, Auto-component, Fisheries and Agro-products, he added.