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India’s exports are increasing significantly and will achieve a record of $ 800 billion in the financial year of 202425, Commerce and Industry Minister Piyush Goyal said on Friday.
India’s exports will achieve a record of USD 800 billion in the 2024-25 financial year.
India’s exports are increasing significantly and will achieve a record of USD 800 billion in the financial year of 2024–25, Commerce and Industry Minister Piyush Goyal said on Friday.
Goyal said, “Exports are increasing and have increased significantly in the last four years. This year too, development will happen. We will end the year with exports of USD 800 billion for the first time in India’s history.” In Rajya Sabha.
He told Congress leader Rajiv Shukla that it is “not completely accurate” that India’s exports are decreasing.
Goyal asked him not to worry about falling foreign exchange reserves as he is above the USD 600 billion for several consecutive months.
The minister, however, informed the Upper House that some imports – petroleum products, cooking coal, pulses and edibles are “unavoidable” due to domestic shortage and high demand.
Increase in imports, which is a good sign for the economy, is due to an increase in domestic consumption.
He said, “It will take a few years to install and establish production units. During that period, obviously, imports will increase,” he said.
When imports grow in a particular area, industries are attracted to that area. This will lead to increasing jobs and more and more investment, they explained.
The budget of 2025-26 has also promoted consumption expenses by providing tax relief to the middle class.
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(This story has not been edited by News18 employees and a syndicated news agency has been published from feed – PTI,
