In the fiscal years 2021-22, India's exports reached a new high of USD 418 billion.

India's exports crossed the USD 400 billion level for the first time in history

 
Merchandise exports increased by 37% to USD 400.8 billion from January to March 2021-22, compared to USD 292 billion in 2020-21. Outbound exports had previously reached a high of USD 330.07 billion in 2018-19.
 
Prime Minister Narendra Modi praised the country's achievement of its commodities export goals, calling it an 'important milestone' in India's "Aatmanirbhar Bharat" mission.
 
Nine days before the March 31 deadline, the highest-ever goods export target was met. 'India set a lofty goal of USD 400 billion in goods exports, which it surpasses for the first time. For this achievement, I salute our farmers, weavers, MSMEs, manufacturers, and exporters. #LocalGoesGlobal is a key milestone in our Aatmanirbhar Bharat journey," Modi tweeted.
 
Despite all difficulties, including the Covid-19 epidemic and the Russia-Ukraine war, Commerce and Industry Minister Piyush Goyal told the media that India has reached this milestone.
 
Closer connection with states and districts, involvement with exporters, speedier resolution of their difficulties, and active engagement with various export promotion councils, industry groups, and other stakeholders all contributed to the achievement of this milestone, he said.
 
Every month, commodities worth almost USD 33 billion were sent, and around USD 1 billion was shipped every day.
 
Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), said that crossing USD 400 billion is a remarkable achievement because exporters added over USD 110 billion in a year to get here despite huge logistical challenges such as container shortages, skyrocketing freight, and liquidity constraints.
 
'What's more essential is to build on it,' he added, noting that the PLI scheme (production linked incentive) and new free trade agreements will help.
 
The achievement, according to FIEO Vice-President Khalid Khan, is a "landmark," as exports have "done so well" despite the Covid-19 outbreak.
 
India's crossing of USD 400 billion in goods exports, according to Chairman of the Apparel Export Promotion Council (AEPC) Narendra Goenka, 'marks the beginning of an age of exponential development and domination in international commerce.'
 
'Growth rates will be exponential from here on out,' Goenka remarked.

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