India achieves $400 billion goods export target for first time, PM Modi hails milestone

NEW DELHI: India achieved its highest ever goods export target of $400 billion on Wednesday, March 23 nine days ahead of schedule. Hailing the country’s success in achieving its goods export target of USD 400 billion, Prime Minister Narendra Modi said that this is a key milestone in India’s ‘Aatmanirbhar Bharat’ journey. 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.

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Taking to Twitter, PM Modi said: “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. #LocalGoesGlobal.”

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. #LocalGoesGlobal pic.twitter.com/zZIQgJuNeQ

— Narendra Modi (@narendramodi) March 23, 2022

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He posted a graphics of India achieving the highest ever exports target nine days ahead of the intended deadline.

Earlier, Commerce and Industry Minister Piyush Goyal had said India’s merchandise exports have reached almost USD 390 billion as of March 14.

He also said the auto components industry has, for the first time, recorded a trade surplus of USD 600 million.

The minister urged automakers to buy local products and substitute imports. He said this while addressing an event of the automotive component sector on March 16 here.

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Goyal pointed out that India could no longer afford to be closed and protective but will have to open up domestic markets. Further, he asked the auto industry to invest more in R&D (research and development), especially e-mobility, set higher benchmarks for performance and aspire to take five Indian companies in top-50 global automotive suppliers club.