India Eyes Record $800 Billion in Exports Amid Global Challenges

Commerce Minister Piyush Goyal announced that India's exports are set to surpass USD 800 billion this fiscal year, despite global economic challenges and the COVID-19 fallout. There is significant growth in the services sector, and high imports indicate a demand for equipment and machinery in the economy.

Commerce and Industry Minister Piyush Goyal announced that India's exports are poised to surpass USD 800 billion this fiscal year, setting a new record despite global economic challenges.

Last year, exports were at USD 778 billion. Despite global stresses, India's export basket remains extensive.

Goyal highlighted the growing share of services exports and noted that high imports reflect a demand for equipment and machinery, signaling a growing economy.

(With inputs from agencies.)