The country’s service exports will cross the target of $300 billion in the current financial year: Goyal

Gandhinagar. The country’s service export sector is doing very well. Commerce and Industry Minister Piyush Goyal said this on Tuesday. Goyal said here that despite global economic uncertainties, services exports would cross the target of $300 billion in the current financial year, growing by nearly 20 per cent. He said that when it comes to export of goods, this sector is also registering healthy growth. Despite global recession, inflationary pressures and high commodity prices, merchandise exports have been doing well. He said that despite all these pressures, the country’s exports have increased by nine percent in the first nine months of the current financial year, April-December.

Talking about services, Goyal said, “We have done very well. In services, we will register at least 20 per cent growth in exports. We will cross the target of $300 billion service exports. “He told reporters here,” Overall it will be a very satisfactory year amid reports of adverse conditions globally and pressure from every part of the world. He said that the government’s structural reforms and steps like ‘Make in India’ and ‘Digital India’ are showing results. During April-December 2022-23, total exports grew by nine per cent to $332.76 billion, while imports grew by 24.96 per cent to $551.7 billion.

The trade deficit has widened to $218.94 billion in the first nine months of the current fiscal, from $136.45 billion in the same period of the previous fiscal. The country’s merchandise exports had reached an all-time high of $422 billion in the last financial year. Goyal was here to attend the inaugural session of the B20 India Kick-off meeting. The meet has been organized by the Confederation of Indian Industry (CII).

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