India's overall exports cross an all-time high of $750 billion, says Piyush Goyal
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Recently, the country's Commerce Mr. Piyush Goyal has given a very good news to the country that our country's exports have crossed 750 billion-dollar.
India's total exports have crossed an all-time high of $750 billion. Referring to unfavorable economic conditions globally due to a combination of factors including high inflation and the war in Ukraine, he said the country's exports grew by $500 billion in 2020-2021 in extremely challenging times.Here we are talking about both Goods and Service because Wipro TCS Infosys etc. companies export their service to USA UAE Europe etc. This is also included in it which is 750 billion export
India's target is to achieve $ 2 trillion exports, it is possible that by 2030, India's exports were 676 billion-dollars in the financial year 2020-21, as big as the data has come out, soon India will join the top ten exporting countries.
In 2021-22, the country's exports of goods and services are set to reach an all-time high of $422 billion and $254 billion, respectively, taking total shipments to $676 billion. If you look at China's total export, it is $ 3 trillion, as much as India's nominal GDP, China is exporting that much, probably in the next 10 years, India will overtake USA in exports and Japan will take 1 to 2 years to overtake. going to take time
With the increase in India's exports, the falling value of the rupee will be prevented because the current account deficit will be reduced by increasing exports, which means that India's rupee is going to strengthen soon and it can also go from ₹ 80 - 78 per dollar. Is
One of the main reasons for the increase in India's exports is the manufacturing of Apple Samsung mobile phones in India.
India has benefitted a lot from the free trade agreement with UAE and India has exported 32 billion dollars in 2022- 23 financial year
India has exported Rs 14,000 crore in the defense sector, which is estimated to reach Rs 60,000 crore by 2026.
India will soon enter into a free trade agreement with countries like UK, European Union, Canada, Israel, etc., which will help India to increase its exports.
Although 750 billion-dollar exports is a big achievement for India, but the path to reach the target of $ 2 trillion will be very difficult.
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