According to a leading representative of a group of exporters, India’s exports of goods and services are projected to reach $900 billion in the current fiscal year, which is an increase from $770 billion in the previous year. Despite global challenges, India’s exports remain strong and resilient.
Ajay Sahai, who serves as the Director General of the Federation of Indian Export Organizations (FIEO), has predicted that India’s merchandise exports are likely to increase to a range between $495 billion to $500 billion, and services exports could reach $400 billion by March 2024.
The speaker mentioned that there is still robust demand from foreign countries in many markets.
The Trade Minister, Piyush Goyal, encouraged exporters to look into new markets as there are concerns about the potential effects of the Ukraine conflict and a global economic slowdown. Nonetheless, the speaker noted that there is still solid demand for goods from foreign markets in several sectors.
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