The country’s exports are expected to register healthy growth rate in the financial year 2022-23 and might touch $ 530 billion as exporters are “flushed” with orders, the Federation of Indian Export Organisations (FIEO) said. It added that additional exports will come from some of the PLI (production-linked incentive) sectors in the next fiscal.
“Since India will be adding over $ 130 billion or so in the current fiscal, we should aim to build on the same and thus aim much higher. We are likely to cross $ 400 billion in 2021-22, we should focus and aim for exports in the vicinity of $ 525-530 billion in 2022-23,” FIEO President A Sakthivel said in a statement.
He said exporters across sectors are flushed with orders for the next fiscal , which will push the growth prospects in the next fiscal.
Meanwhile the country’s exports rose by 36.2 per cent to $ 23.82 billion during December 1-21 this year, according to preliminary data of the commerce ministry. Exports, excluding petroleum, have increased by 28.08 per cent during the period under review. “The value of export is $ 23.82 billion, up by 36.20 per cent over the same period of 2020-21 ($ 17.49 billion) and up by 27.70 per cent over the same period of 2019-20 ($ 18.65 billion),” it said.