India's Goods Exports Rose 6.03 Per Cent To Over $447 Billion In FY23: Commerce Secretary

Union Commerce Secretary Sunit Barthwal on Thursday said that India's goods exports rose by 6 per cent to over $447 billion in the financial year 2022-23 despite global headwinds.

Barthwal also said that the country's overall exports in FY23 exceeded its $750 billion target, reaching $770.18 billion.

This represents a significant increase from the past year's highest exports of $676 billion by $94 billion.

“Based on services exports estimates and actual numbers of goods exports, we have surpassed our target of $750 billion dollars to hit $770.18 billion. Last year also, we achieved highest exports of $676 billion and this is $94 billion higher," Barthwal was quoted as saying by The Hindu.

The growth in India's overall exports came despite global economic turmoil during FY23 due to rising energy prices and Russia-Ukraine conflict.

“Despite global headwinds, we have not only achieved the target but also surpassed it. Goods exports have touched $447.46 billion in 2022-23, indicating a growth of 6.03 per cent over $422 billion of exports in 2021-22,” he said.

Meanwhile, Commerce and Industry Minister Piyush Goyal announced that India's exports had reached a new peak of $770 billion, marking a 14 per cent increase from the previous year.

“I am delighted to share with you the outstanding export performance for 2022-23, with India’s overall exports scaling new heights at $770 billion, registering 14 per cent growth over the previous year and all-time high record growing from $500 billion in 2020-21 to $676 billion in 2021-22,” Goyal said on 13 April.