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Expressing optimism over exports growth of India, Commerce and Industry Minister Piyush Goyal has said that the country’s irrespective of geopolitical disturbances. The country's merchandise exports during April-February 2022 stood at $374.05 billion, an increase of 45.80 per cent over $256.55 billion in the year-ago period.

Goyal said ‘So I do believe that irrespective of problems we have in the northern parts of Asia (and) Europe, we are well on track not only to achieve $400 billion, I am hoping closer to $410 billion (during this fiscal)’. He also said services exports would cross $250 billion. He noted that ‘If we want to be a $5 trillion economy, our exports of goods and services will have to be $1 trillion each, ideally 25% but at least 20%. I say 25% because we need to support our import of oil and therefore our exports will have to go up leaps and bounds so that we can continue to finance our imports and strengthen the rupee in days to come’.

He added ‘I believe a strong currency reflects the strength of a nation and will always be good for exports because India is a net importer of goods. A strong currency supports the Indian economy’. The minister also urged the industry to consider three points -- exploring ways to fully utilise free trade agreements implemented by India; instilling a feeling of pride for Made In India products; and focusing on development requirements of aspirational districts or tier 2 and 3 cities.