India’s combined exports of merchandise and services will be close to $750 billion, Dr V Anantha Nageswaran, Chief Economic Adviser, has said.
Delivering a speech on ‘Have Global Headwinds delayed India’s march towards a $5 trillion economy’, for the Chennai International Centre, Dr Nageswaran, said that in the first ten months of FY23, India’s merchandise exports amounted to $360 billion and services exports, $264 billion, compared with $340 billion and $220 billion, respectively, in FY22.
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India’s exports have done well in spite of the global economic slowdown, he said, adding that when the full-year data comes, it would be seen that India’s total exports—merchandise and services—would be close to three quarters of a trillion dollars.
He pointed out that India’s exports and imports together amounted to about 45 per cent of the GDP, which meant that “we have to be sensitive to what is happening in the rest of the world.”
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