Breaking News

You are here » Indian-Commodity  :  Economy  :  India's export of goods may touch $330 billion in 2018-19: Suresh Prabhu


India's export of goods may touch $330 billion in 2018-19: Suresh Prabhu

Expressing optimism over export growth, Commerce and Industry Minister Suresh Prabhu has said that India's export of goods may touch $330 billion in 2018-19. He added that this will be the highest ever growth. He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.

With the structural reforms that have been put in place over the past five years by the ministry and action-oriented plans for major sectors, Prabhu said India is on the path to become the fifth-largest economy this year. He also said the Department of Commerce has identified nine sectors that are gems and jewellery, leather, textiles, engineering, electronics, chemicals, pharma, agriculture and marine products to achieve at least 16% growth in exports in 2018-19.

Besides, continuing its growth trajectory for the fourth straight month, India's exports grew by 3.74% to $26.36 billion in January, as exports of gems and jewellery, chemicals and pharmaceuticals increased. Cumulative value of exports for the period April- January 2018-19 was $271.80 billion as against $248.18 billion during the period April- January 2017-18, registering a positive growth of 9.52%.

Related News

View all news

India one of the fastest growing large economies in the world: IMF

Emphasizing on several key reforms carried out by India in the last five years, the International Monetary Fund (IMF) stated that the country has been one of the fastest growing large economies in the......

Govt increases investment limit for availing income tax concessions by startups

The government has given a major relief to startups by enhancing definition of startups. It has decided to relax angel tax norms for startups, including increasing the investment limit to Rs 25 crore for......

India needs revolution in farm sector to achieve 9-10% GDP growth: Niti Aayog CEO

Niti Aayog CEO Amitabh Kant has stated that there is need to bring revolution in farm sector to attain 9-10% Gross Domestic Product (GDP) growth. He also said that there is a need to boost investment in......

Top News

View all news

Infosys to enter into agreement with The House Fund II

Infosys is going to enter into an agreement with The House Fund II, L.P., an AI-focused fund targeting startups from the University of California - Berkeley, committing to invest $10.0 million.......

EID Parry receives approval for investment Rs 70 crore in PSRIPL

EID Parry (INDIA) has received approval for investment upto Rs 70 crore in the equity share capital of Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary of the Company. The Board of directors......

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......