India's Exports Rise to Record High of $418 bn in Financial Year 2021-22

India has crossed $418 billion of exports in Financial Year 2021-22 which is about five per cent more than the previous financial year, Union Minister Piyush Goyal said on Sunday.

Appreciating India's performance during the COVID-19 pandemic, Commerce and Industry Minister Piyush Goyal said, "For the first time in our country's history, 418 billion export have been done that is 5 per cent more than the target, despite COVID waves. The consistency is such that we exceeded 40 billion dollars in March. It has never happened before."

In his address, Goyal also lauded the success of the movie 'RRR' which has earned over Rs 750 crores.

"I have learnt that RRR movie is perhaps country's biggest film, and has earned over Rs 750 crores. Likewise, I feel India's economy is also breaking record after record," he said.

The government data earlier informed that India's merchandise export in April 2021-February 2022 was USD 374.05 billion, an increase of 45.80 per cent over USD 256.55 billion in April 2020-February 2021 and an increase of 28.16% over USD 291.87 billion in April 2019-February 2020.

Buoyed by the recent surge in Indian goods exports which touched USD 400 billion this year, India will give further push to economic diplomacy and will market its business more boldly and openly across the globe, a senior functionary of the government told ANI.

India has recently inked crucial trade agreements with United Arab Emirates (UAE) and Australia. Talks with Israel, European Union and Britain are also progressing well, according to a senior official. Recently, Commerce and Industry Minister Piyush Goyal indicated that several agreements will be inked by the end of 2022.