India's Merchandise Export Touched A Record $418 Billion In 2021-22 Despite Pandemic: Piyush Goyal
Commerce Minister Piyush Goyal today said that India's merchandise exports touched a record $418 billion in 2021-22 and this was possible because the government worked unitedly with small and medium enterprises and farmers to achieve this feat.
Merchandise exports' growth was mainly helped by higher shipments of petroleum products, engineering goods, gems and jewellery as well as chemicals during 2021-22, he added.
Addressing a press conference, Mr Goyal said that during 2021-22, $20 billion worth of exports was achieved on a monthly basis and this was made possible despite the second and third wave of Coronavirus pandemic hitting the country hard.
In fact exports touched an all-time monthly high of $40 billion in March 2022, he informed. This mark was breached on March 23, 2022.
India's top five export destinations were the US, UAE, China, Bangladesh and the Netherlands.
"Our MSME sector, exporters, farmers, everybody together took India to new heights successfully," he said.
The Commerce Minister also tweeted about the record breaking exports.
Goods exports at a historic high!
April 3, 2022
We end financial year 2021-22 with a stupendous figure of $ 417.8 billion.
I dedicate this feat to every stakeholder including our farm & factory workers who have kept their feet on the accelerator.#LocalGoesGlobal pic.twitter.com/cRVjWdde4aGiving the example of the Hindi-Telugu bilingual film "RRR", which is learnt to have done the highest-ever business of Rs 750 crore in the history of Indian cinema, Mr Goyal said that Indian economy is also ready to break all records just like the film as India has the capability to achieve impossible targets.
He said that despite global supply chains being disrupted due to the Ukraine-Russia war and shipping costs sky-rocketing, India has managed to achieve an all-time monthly high export of $40 billion in March 2022.
The Commerce Minister also said that between 2019-20 and 2021-22, there has been a record-breaking 3,500 per cent growth in wheat exports.
मोदी सरकार के प्रयासों से, हुई निर्यात में अभूतपूर्व वृद्धि,
April 3, 2022
किसानों को मिल रही खुशहाली व समृद्धि।#LocalGoesGlobal pic.twitter.com/lFviu56FDCIn 2019-20, wheat exports stood at 2 LMT while in 2021-22 they shot up to 70 LMT.
Mr Goyal thanked farmers for their cooperation in boosting country's agri-exports.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
