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Last Updated: April 14, 2023, 05:58 IST
The country’s imports also grew by 16.5 per cent to USD 714 billion in 2022-23 as against USD 613 billion in 2021-22. (Representative image)
The total goods and services exports during the last fiscal grew by 13.84 percent to USD 770.18 billion
The country registering an all-time high goods and services exports of USD 770 billion despite global economic uncertainties has reflected the resilience of the Indian export sector, according to exporters.
Federation of Indian Export Organisations (FIEO) Chairman A Sakthivel said the merchandise exports of USD 447.47 billion have been mainly on account of phenomenal growth in exports of electronic goods, petroleum products coupled with growth in agro and processed food, marine products, leather goods, apparel and pharmaceuticals.
He added that roughly 40 per cent of the incremental GDP in 2022-23 was contributed by exports. The Apparel Exports Promotion Council (AEPC) said that exports touched a new high despite the global headwinds and recessionary trends in important markets.
AEPC Chairman Naren Goenka said, “The spectacular export performance of merchandise and service exports is testimony to India’s growing dominance in the emerging global economic order”.
Sanjay Budhia, Chairman CII National Committee on EXIM and MD Patton Group, said that India has truly become a trusted partner to the world on account of the many transformational reforms undertaken by the government. “Industry is confident that India will scale greater heights and achieve more milestones in future to become the global hub of exports,” he said.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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