India's exports rose 8% during 2018-19; Piyush Goyal reveals figure greater than $0.5 Tn

The value of India's overall exports rose about 8 per cent to USD 538.07 billion during 2018-19, Parliament was informed on Monday.

Goyal's comment

In a reply to a question in the Lok Sabha, Commerce and Industry Minister Piyush Goyal also said that as per the Foreign Trade Policy 2015-20, the government aims to increase the country's export of merchandise and services to USD 900 billion in 2019-20 and raise India's share in world exports (goods and services) to 3.5 per cent.

According to data provided by the minister, India has been registering growth for the past three years in terms of exports of merchandise and services.

In 2013-14, exports valued at USD 466.23 billion. It grew to USD 468.46 billion in 2014-15 and fell to 416.60 billion in 2015-16 and again went up to USD 440.05 billion in 2016-17.

The country's overall exports of merchandise and services rose to USD 538.07 billion in 2018-19 from USD 498.63 billion in 2017-18, up 7.90 per cent.

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