India’s exports to reach US$ 760-770 bn this fiscal

In the previous fiscal year, India's merchandise and services exports amounted to US$ 672 billion

March 10, 2023

India is currently responsible for 1.8% of the world's merchandise trade

The country is also responsible for 4% of global services trade

The government is taking measures to increase these numbers to 10%

India's economy is one of the fastest-growing in the world

India’s combined merchandise and services exports for the current fiscal year ending in March will be around US$ 760-770 billion, according to Union Minister for State for Commerce and Industry, Anupriya Patel. In the previous fiscal year, India’s merchandise and services exports amounted to US$ 672 billion.

During the Sourcex India event held in New Delhi, Patel emphasized that India is currently responsible for only 1.8% of the world’s merchandise trade and 4% of services trade. She stated that the government is taking measures to increase these numbers to 10%.

Experts said that India’s economy is one of the fastest-growing in the world and there is ample potential for Indian businesses, particularly brands, to expand globally. They further mentioned that India will achieve US$ 770 billion in combined exports this year, up from US$ 672 billion the previous year.

The Sourcex India event aims to promote Indian brands in the international market, aligning with Prime Minister Narendra Modi’s goal of making India a global manufacturing hub.

Source: Economic Times

Recent Articles

GST Council approves sweeping rate cuts under simplified two-tier system

September 4, 2025

Finance Minister Nirmala Sitharaman on Wednesday announced major Goods and …

Read More

Services sector sees fastest growth in 15 years

September 3, 2025

India’s service activity raced to a 15-year high of 62.9 …

Read More

Semicon India 2025: PM Modi hails India’s fab power as key to change

September 2, 2025

Prime Minister Narendra Modi inaugurated Semicon India 2025, underscoring India’s …

Read More