India’s Exports Rise 6% To $447 Billion In 2022-23: Commerce Minister

The country’s exports rose by about 6 per cent to a “record” $447 billion during 2022-23 on account of healthy growth in the outbound shipments of sectors such as petroleum, pharma and chemicals and marine, Commerce and Industry Minister Piyush Goyal said today.

The country’s imports also grew by 16.5 per cent to $714 billion in 2022-23 as against $613 billion in 2021-22.

He said that the exports of goods and services together scaled “new heights” and has increased by 14 per cent to $770 billion in 2022-23 as against 676 billion in 2021-22.

“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,” the minister told reporters in Rome.

India’s services exports too have increased by 27.16 per cent to $323 billion in 2022-23 as compared to $254 billion in 2021-22.

“This is truly a sign of India’s expanding our international footprints,” he added.

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