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India's merchandise exports touch record $38.94 billion in June
India's merchandise exports touched a record high of $38.94 billion in June, up 23.52% from $31.52 billion in June 2021, according to data released by the Ministry of Commerce and Industry.The growth in exports was driven by strong demand for Indian goods in key markets, such as the United States, Europe, and the Middle East. The export of petroleum products, engineering goods, gems and jewellery, and chemicals all registered significant growth in June.
The government has set a target of exporting $400 billion worth of goods in 2022-23. With the strong performance in June, India is well on track to achieve this target.
The rising exports are a positive sign for the Indian economy. They show that Indian goods are becoming more competitive in the global market. The government is taking steps to further boost exports, such as providing incentives to exporters and improving infrastructure.
The strong growth in exports is also a sign of the resilience of the Indian economy. The economy has been facing headwinds from rising inflation and a slowdown in global growth. However, the export growth shows that the economy is still capable of generating growth.
The government is confident that India will be able to achieve its export target of $400 billion in 2022-23. The strong performance in June is a good indication that the government will be able to achieve this target.
