Amazon Quiz: India recently achieved what goods export target for the first time?
$400 billion
$50 billion
$100 billion
$150 billion
Answer: $400 billion
In March 2022, India’s targets were met when annual merchandise exports reached $400 billion for the first time. It arrived 9 days before schedule even as Commerce and Industry Minister Piyush Goyal warned of trade disruptions over the Russia-Ukraine conflict.
Prime Minister Narendra Modi was quick to praise this in a Twitter post, saying, “India set an ambitious target of USD 400 billion of goods exports and achieved this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey.”
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Goyal’s own tweet, which showed how the current growth aligns with India’s vision of being atma nirbhar (self-reliant), said “India on the path to becoming an Export Powerhouse! PM @NarendraModi ji inspired confidence & led from the front through our journey to $400 billion goods exports target”.
In FY2021, India’s goods exports amounted to $298.1 billion.
As per experts, this raise came due to commodity price hikes and an increase in unmet demands due to the coronavirus waves.
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While engineering goods formed the core of the increased exports, electronic items also made up a significant amount. This was followed by jewellery and gems, and a hike in gold prices too.
Goyal touted how India’s image as an exporter of primary products was changing and the nation is now sending out more value-added and high-end products.
Amazon Quiz: In which city of the Middle East is this ancient mosque located in?
