Exports to hit $330 bn in 2018-19; nine sectors identified to achieve 16% growth this financial year: Suresh Prabhu

He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.

Press Trust of India March 08, 2019 10:42:29 IST
Exports to hit $330 bn in 2018-19; nine sectors identified to achieve 16% growth this financial year: Suresh Prabhu
  • Prabhu said the country's merchandise exports have seen high growth in the past six years

  • The minister said that India is on the path to become the fifth-largest economy this year

  • During April-January this fiscal, exports grew 9.5 percent to $271.8 billion

New Delhi: The country's goods export will touch $330 billion in 2018-19, which will be the highest ever, Commerce and Industry Minister Suresh Prabhu said on Thursday.

Exports to hit 330 bn in 201819 nine sectors identified to achieve 16 growth this financial year Suresh Prabhu

File image of Suresh Prabhu. AFP

He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.

With the structural reforms that have been put in place over the past five years by the ministry and action-oriented plans for major sectors, the minister said that India is on the path to become the fifth-largest economy this year.

"India's goods export will peak at $330 billion in 2018-19 which will be the highest ever," the ministry said in a statement quoting Prabhu.

He also said the Department of Commerce has identified nine sectors — gems and jewellery, leather, textiles, engineering, electronics, chemicals, pharma, agriculture and marine products — to achieve at least 16 percent growth in exports in 2018-19.

During April-January this fiscal, exports grew 9.5 percent to $271.8 billion.

Updated Date:

also read

Explained: What are bird strikes and how they affect aviation safety?
India

Explained: What are bird strikes and how they affect aviation safety?

Two planes in India — a Spicejet one bound for Delhi and an Indigo flight — were struck by bird hits on Sunday and had to be grounded. As per International Civil Aviation Organization data, airlines face an average of 34 such strikes in a day, amounting to a loss of around $1 billion annually

Explained: How the ban on Russian gold by G7 countries will impact the Kremlin
World

Explained: How the ban on Russian gold by G7 countries will impact the Kremlin

In the latest move to tighten the screws on Vladimir Putin, the Group of Seven nations have agreed to ban Russian gold. Like other sanctions, the ban is meant to isolate the country economically

Check entry of older vehicles in Delhi, help curb pollution: Delhi to Haryana
India

Check entry of older vehicles in Delhi, help curb pollution: Delhi to Haryana

The request was made to deal with the problem of vehicular pollution in the city, which the officials indicated is contributed to in part by vehicles coming from Haryana