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India’s Exports stands at 670 billion US Dollars last year says PM

India’s Exports stood at 670 billion US dollars (Rs fifty Lakh Crores) during the last financial year 2021-22 despite global disruptions due to corona pandemic, Prime Minister Narendra Modi said.  Last year, the country had decided that despite every challenge, it has to cross the threshold of  400 billion US dollars (Rs. 30 lakh crore ) Merchandise Export. We crossed this and created a new record of export of 418 billion US dollars.( 31 lakh crore rupees ). “Encouraged by this success of the past years, we have now increased our export targets and have doubled our efforts to achieve them. Collective effort of everyone is very necessary to achieve these new goals”, he said, further adding that not only short term but long term targets should be set.

Prime Minister Modi inaugurated 'Vanijya Bhawan' and launched the NIRYAT portal in Delhi today. Union Ministers  Piyush Goyal,  Som Prakash and Ms Anupriya Patel were among those present on the occasion

The Prime Minister said that the government's emphasis on local products through the Vocal for Local campaign, 'One district, one product' scheme, has also helped in increasing exports

We are also helping and emphasizing on GI tagging to connect our farmers, weavers and our traditional products with the export ecosystem.” He also referred to trade deals with UAE and Australia last year and informed that there has been a lot of progress with other countries as well.

Referring to the new infrastructure of the Ministry, the Prime Minister said that this is also time to renew the pledge of ease of doing business and through that ‘ease of living’ too. Ease of access, he said, is the link between the two.

India is ranked 46th in the Global Innovation Index and is continuously improving.

He had also talked about improving ease of doing business at that time , today, more than 32000 unnecessary compliances have been removed. Similarly, GST was new at the time of foundation stone laying of the building, today, 1 lakh crore GST collection per month has become commonplace.

 

Today India has 2300 registered Fin-tech startups, up from 500, 4 years ago. At the time of the foundation stone laying of the Vanijya Bhawan India used to recognize 8000 startups every year, today, this number is more than 15000.

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