India achieves $400 billion exports target 9 days before schedule
The milestone is not just a testament to the global endorsement of Make in India brands but also showcases the strength in manufacturing of quality goods and reliable capacity of production.
FollowIndia has achieved a historic feat when it reached its ambitious target of $400 billion in goods exports, 9 days ahead of the schedule.
According to the data released by the government, the country recorded the highest ever merchandise exports worth $400 billion in 2021-2022 compared to $292 billion in 2020-2021. The 2020-2021 export tally was an achievement in itself as it came in the midst of the global Coronavirus pandemic.
The milestone is not just a testament to the global endorsement of Make in India brands but also showcases the strength in manufacturing quality goods and reliable capacity of production.
Prime Minister Narendra Modi took to Twitter to say, "India set an ambitious target of $400 Billion of goods exports & achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey."
The record export figures were also made possible through the Centre's unwavering support through close interaction at the state and district level, facilitating the promotion of exports and speedy resolution of issues and active engagement with exporters.
Further deep-dive into the export data shows that the average good export in 2021-2022 was a staggering $46 million every hour, $1 billion a day and $33 billion every month. This $33 billion monthly export target was achieved through government support to domestic manufacturing through Prime Minister Narendra Modi's 'Vocal for Local' call and thrust upon Make in India and Aatmanirbhar Bharat. Besides this, incentives and schemes like the Production Linked Incentives further enhanced the export market.
The government's focus as far as expanding exports was on recapturing the market shares lost in the past years, both in terms of countries and products. Today, even the smallest of countries is being covered by Indian exports.
