India’s Exports reaches $750 Billion

What is in the News?

• The Prime Minister, Shri Narendra Modi has lauded the people of India for achieving over $750 Billion exports in 75th year of India’s independence. 
• Sharing a tweet by Union Minister for Commerce and Industry, Shri Piyush Goyal informing about the feat of achieving over $750 Billion exports in 75th year of India’s independence.

 Important Facts

• India’s goods and services exports touched an all-time high of $422 billion and $254 billion respectively in 2021-22.
• India exports maximum to USA (18% share)> UAE (6%)> China (5%)> Bangladesh
• India’s target: $2 trillion export by 2030.

Practice Questions for Prelims

Q. Consider the following statements:

1. India exports Maximum to UAE, followed by USA and China.
2. Electric Machinery is included in the top 10 imports of India.

Which of the above statements is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Ans. b

Mains Practice Question

What challenges does India’s export sector face? List some strategies to increase its competitiveness in the world economy.

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