Exports during June quarter this year jumped to USD 95 billion on account of healthy growth in sectors, including engineering, rice, oil meals and marine products, Commerce and Industry Minister Piyush Goyal said on Friday.
The merchandise exports were USD 82 billion during April-June 2018-19 and USD 90 billion during the last quarter of 2020-21, he told reporters here.
In June quarter 2020-21, exports were USD 51 billion. Last month, exports grew by 47 per cent to USD 32 billion. "Exports during April-June period are the highest ever merchandise exports in a quarter in the history of India," Goyal said. He also said the ministry will work with all the stakeholders concerned to achieve the target of USD 400 billion exports in this fiscal year.
Goyal said that sector specific interventions, involvement of all the stakeholders and functioning of the Government as a whole helped in achieving the growth. Simplification of procedures, extension of timelines and licences, all of that has resulted in the record performance of exports, he added. He specially thanked the Prime Minister Narendra Modi for leading from the front, and holding discussions with various stakeholders through webinars after the Union budget, and encouraging everyone to put in their best.
Goyal further said that the performance of the services sector has also been excellent, and despite the pandemic, almost 97% of 2019-20 service export levels were achieved in the last FY. He said that after deliberations with the stakeholders, he is confident that USD 350 billion service exports can be achieved by 2025, and may even go up to USD 500 billion very soon.