India’s merchandise exports may cross USD 500 bn this fiscal: Exporters

Federation of Indian Export Organisations (FIEO) said they are targeting to take the shipments to USD 500 billion-510 billion during the current financial year.

Services exports are likely to reach around USD 390 billion in 2023-24 from USD 322.72 billion in 2022-23.

“Together with goods and services, we are targeting exports of USD 900 billion this fiscal,” FIEO Director General Ajay Sahai said.

He noted that free trade agreements with the UAE and Australia would provide a huge platform to boost exports in those markets.

“Production-linked incentive scheme too will provide an impetus to our exports as domestic production would jump due to the incentives,” Sahai added.

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