India has registered tremendous growth in merchandise and service exports in the last fiscal year. A total of $676 billion worth of exports were made in the financial year 2021-22 under PM Narendra Modi’s leadership. This was stated by Minister of State for Commerce and Industry Anupriya Patel in the Rajya Sabha while replying to supplementaries during Question Hour. She said the country’s export performance is getting better.
During the financial year 2021-22, $422 billion worth of merchandise and $254 billion worth of services were exported. Moreover, efforts are being made by the government to establish district promotion hubs for unique products. Since the country’s exports are increasing, Ms Patel expressed confidence that the country’s trade deficit will decrease in the future.