55% rise in exports in 2 years has added jobs: Piyush Goyal

2023-06-01 18:43:57

Commerce and industry minister Piyush Goyal on Thursday said India’s exports have gone from $500 billion to $776 billion, a 55% increase, in only two years and that the additional exports have added to jobs.

At the Times Network India Economic Conclave 2023, he also said the government is looking at pro-incumbency following 10 years of being in power.

“Our exports have gone from $500 billion, which was regarding ₹38 lakh crore, to $776 billion, close to ₹62 lakh crore… a 55% increase. That’s the growth… this 24 lakh additional exports adds to jobs and I can’t say that this work is over,” Goyal said, adding that by 2030, India will see $2 trillion of exports. He said the country is going to go from $3.5 trillion today to at least $35 trillion by 2047.

The minister said India’s economy might achieve a 7.2% growth in FY23 because of “nine years of the pursuit of a strong foundation of the Indian economy”, which has strengthened the country’s foreign exchange reserves.

“We have strengthened the story on interest rates. We brought down interest rates significantly… inflation also has now come down to below 5%,” he said.

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