India Exports Rs 7,600 Crore Every Day, Says PM Modi ‘Historic’

India Exports Rs 7,600 Crore Every Day, Says PM Modi 'Historic'

Ankur | Mar 23, 2022 |

India Exports Rs 7,600 Crore Every Day, Says PM Modi ‘Historic’

India Exports Rs 7,600 Crore Every Day, Says PM Modi ‘Historic’

India has been trying to reduce the trade deficit for the last several years. For this, it is necessary to increase exports. The efforts of the government in this direction seem to be getting success. The government had set an ambitious target of exports of $400 billion for the current financial year (FY22). The current financial year is not even over yet and this target has been achieved. Prime Minister Narendra Modi on Wednesday lauded this achievement and termed it as historic.
PM Modi reacted like this

Sharing the graphics of the export figures on Twitter, he wrote, ‘India had set an ambitious target of exporting goods worth $ 400 billion and for the first time it has been achieved. I congratulate our farmers, weavers, small and medium industries, manufacturers and exporters for this success. This is an important milestone in our journey of self-reliant India. #LocalGoesGlobal.’ Government got success due to these factors.

It has been told in the graphics shared with the post that India has achieved this target 9 days before the end of the current financial year. In this, those 3 factors were also counted, which helped the government to achieve this target. These three factors are the government’s approach to closure interaction at the state and district level, closer interaction with exporters and prompt action on their complaints and actively engaging other stakeholders including Export Promotion Councils and Industry Associations.

Higher exports than last financial year

Another graphics showed a breakup of the export figures. On a monthly basis, during 2021-22, India exported 33 billion dollars every month. Similarly, on a daily basis, this figure becomes $ 1 billion i.e. Rs 7,600 crore. If you look by the hour, during this period the country exported goods worth about Rs 350 crore every 1 hour. The figure of export so far in the current financial year is 37 percent more than that of the previous financial year. In the last financial year, India had exported a total of $292 billion.

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