union minister for commerce and industry piyush goyal press conference in new delhi

During a press conference, Union Commerce and Industry Minister Piyush Goyal said India’s goods exports in 2021-22 hit a record $418 billion, over 40% higher than last year and 33% over pre-pandemic levels of 2019-20.

Engineering goods exports hit a record $111 billion, of which about $16 billion worth goods were shipped to the U.S. alone.

While earlier exports were dominated by neighbouring and ASEAN nations, this year recorded a significant jump in exports to developed countries like the U.S., Netherlands, Hong Kong, Singapore, U.K., Belgium and Germany.

March 2022 also recorded the highest ever monthly exports of over $40 billion, said Mr. Goyal.

Mr. Goyal said “The growth has occurred in sectors that has smaller enterprises and involves the agriculture sector. I congratulate the farmers for raising their productivity such that wheat exports have grown from 2 lakh tonnes in 2019-20 to 21.55 lakh tonnes last year and in 2021-22, it has grown to over 70 lakh tonnes.”

The Union Minister said “Similar growth has been seen in jute products, textiles, leather, gems and jewellery and other labour intensive sectors. We will continue to work hard to enhance the capacity of MSMEs and farm sector to raise exports and create jobs.

“Even a pandemic like COVID-19 and the war like situation has not deterred our export target for the year. When there is decisive leadership from a leader like PM Narendra Modi with a whole of government and whole of nation approach, it has reflected in these results.”

He said “We will continue to export wheat in a big way to countries that have been affected by the conflict in Ukraine and Russia (major global wheat suppliers) and hope to export 100 lakh tonnes of wheat this year comfortably.”

Commerce Secretary B.V.R. Subrahmanyam said “3.5 million tonnes of wheat has been exported to Bangladesh largely through the Petrapole land border.”