Home News Business India exports $770 billion in goods and services in 2022-23

India exports $770 billion in goods and services in 2022-23

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India exports $770 billion in goods and services in 2022-23

Export-Import Data: India’s imports in 2022-23 with a jump of 16.5 percent have totaled $ 714 billion, which was $ 613 billion in 2021-22. While exports from India have seen a jump of 6 percent and it has been $ 447 billion as compared to $ 442 billion in 2021-22.

In 2022-23, India has exported goods and services worth $ 770 billion, which is 14 percent more than in 2021-22. In 2021-22, the export of goods and services was 676 billion dollars. Commerce Minister Piyush Goyal has given this information. Commerce and Industry Minister Piyush Goyal said that exports have been good mainly due to better performance in the sectors of petroleum, pharmaceuticals, chemicals and marine products. He said that exports of goods and services have reached a new high and increased by 14 percent to $ 770 billion in 2022-23 from $ 676 billion a year ago.

Services exports from the country have increased by 27.16 percent to $ 323 billion in 2022-23, which was $ 254 billion in the previous financial year. Piyush Goyal said that this is actually a sign of India’s expansion in the international market.

Goyal is on a tour of France and Italy from 11 to 13 April and he has given this information there. During his visit, he will hold meetings with leaders of both countries and CEOs of various companies to deepen trade and investment ties. Talking to reporters, he said that the increase in exports will help in controlling the current account deficit. He said that in the service sector, there has been good growth in various sectors including information technology, accounting and ‘business processing’. Sectors that registered growth in the commodity category included oil meals, electronic goods, tobacco, oilseeds, rice, coffee, fruits and vegetables, leather goods, ceramics, pharmaceuticals, marine products, chemicals and ready-made garments.

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Piyush Goyal said that exports of goods and services have increased by about $100 billion to cross $770 billion in challenging times. This has been achieved when there is a slowdown in international trade in the world. The situation of recession in the developed world and high rate of inflation is being seen in many countries.

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