India's export of goods has increased strongly in October. According to government data released on Thursday, India's exports increased by 17.25 percent to US $ 39.2 billion in October. India's merchandise exports increased by 17.25 percent to US $ 39.2 billion in October, compared to US $ 33.43 billion a year ago. According to PTI news, imports increased by 3.9 percent to US $ 66.34 billion in October, compared to US $ 63.86 billion a year ago. Furthermore, the country's goods and services exports are estimated to cross $800 billion in the current fiscal year due to government support and competitive products from domestic companies.
Exports during April-October 252.28 billion dollars
According to the news, the trade deficit or the difference between imports and exports in October was US $ 27.14 billion. India's merchandise exports rose marginally by 0.5 percent to US$34.58 billion in September. During April-October in the current financial year, exports increased by 3.18 percent to $252.28 billion, while imports increased by 5.77 percent to $416.93 billion. Commenting on the figures, Commerce Secretary Sunil Barthwal said that this month has been very good for exports. If we continue to move forward like this, exports will cross $800 billion this year.
Export target of 2,000 billion dollars by the year 2030
India's goods and services exports in the financial year 2023-24 have been $ 778 billion. Last Monday, Commerce and Industry Minister Piyush Goyal said that collective effort is needed to achieve the huge export target of $2,000 billion by the year 2030. During the last five years, India's export competitiveness has increased rapidly in sectors like petroleum, gems, agrochemicals and sugar. This information has been given in the data of the Ministry of Commerce. India has increased its share in global trade in these sectors during 2018 and 2023.
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