India achieves highest ever goods export target of $400 billion

(Representative image)

India achieved its highest ever goods export target of $400 billion on March 23 nine days ahead of schedule.  Asia's third largest economy had set this ambitious export target for FY22. In the April-December period the figure stood at about $300 billion.

"India set an ambitious target of $400 Billion of goods exports and 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," Prime Minister Narendra Modi tweeted.

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.

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This is a key milestone in our Aatmanirbhar Bharat journey. #LocalGoesGlobal pic.twitter.com/zZIQgJuNeQ

— Narendra Modi (@narendramodi) March 23, 2022

In a reply during the question hour in Lok Sabha in February, Commerce and Industry Minister Piyush Goyal said, "For 10th month in a row, April 2021 to January 2022, India has posted over USD 30 billion of exports. It is a record, we have already crossed USD 334 billion of exports which is more than the highest ever that India has done in full 12 months period.. We are well on track to achieve USD 400 billion of exports.”

A range of initiatives, handpicked specifically to maximise export earnings and establish dominance in key markets, have been pushed by the Commerce Department in the current fiscal year.