Exports will cross the $331-billion mark in the year 2018-19, Commerce and Industry Minister said
India’s exports are expected to reach $32.38 billion in March, the highest in any month so far, on account of healthy growth in sectors such as pharmaceuticals, Commerce and Industry Minister Suresh Prabhu said recently.
He said exports will cross the $331-billion mark in the year 2018-19.
He further added that for the “first time”, India has crossed $19 billion mark in pharma exports this fiscal.
The Commerce Ministry will release the trade data on April 15.
Prabhu said the country’s exports were declining for a long time, but now “this year, we would have record exports”. The figures in 2018-19 will be the highest ever at a time when there is a worst scenario in the world trade front, he said.
Outbound shipments are growing because of concerted efforts by the ministry in the last one year, the he said.
“We created a matrix between every product and every geography. Secondly, we had done series of road shows,” Prabhu said adding export potential was tapped in regions such as Africa and Latin America.
The ministry also held several meetings with the line ministries, including food, agri, pharma and IT ministry, to resolve issues hindering exports.