India’s Commerce and Industry Minister, Piyush Goyal, has expressed optimism about the country’s export performance. He predicts that India’s goods and services exports will surpass $800 billion in the current fiscal year (FY25), marking a 3% increase from the previous year.
This upbeat forecast comes amidst ongoing global challenges, including geopolitical tensions and a high number of elections around the world. However, the Ministry is confident that growth will be achieved in both goods and services exports, setting a new record for India. This positive outlook is supported by strong export figures from May 2024, which showed a 9.09% increase compared to the same month in the previous year.
To achieve the ambitious target, the Ministry is focusing on setting specific export targets for various sectors and working collaboratively with promotion councils and embassies abroad. This strategic approach aims to navigate global uncertainties and propel India’s export sector to new heights.
Source: Logistics Insider