India’s ‘Goods and Services’ export to exceed $750 bn in 2022 | Daily News

India’s ‘Goods and Services’ export to exceed $750 bn in 2022

While interacting with the Indian diaspora, Union Commerce and Industry Minister Piyush Goyal said that India is expecting to cross $750 billion of goods and service export in 2022.

“No country in the world has become a developed country without significantly expanding engagement with rest of the world. Last year we did 675 billion of goods and service export, the highest ever. We’re expecting to cross $750 billion this year,” he said.

“When Prime Minister Narendra Modi launched the ‘Startup India Initiative’ in 2016, it was a recognition of the growing importance of innovation, of young talent experimenting with new ideas, and coming up with new solutions,” he added.

“We have recently seen some successes in terms of our international engagement growing to about $675 billion for the first time ever last year. We are hoping to increase our international trade to about $2 trillion by 2030,” the minister said.

With a gross domestic product (GDP) of $3.3 trillion, India is the fifth largest economy in the world, behind the United States, China, Japan, and Germany.

Interacting with the Indian community, Goyal spoke about the slew of free trade agreements (FTAs) that India signed and was in the process of finalising. (ANI)

 


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