Commerce and Industry Minister Piyush Goyal on Friday said despite global economic uncertainties, India’s exports of goods and services are expected to cross USD 800 billion, which will be a record.
Last fiscal year, the exports stood at USD 778 billion.
He said though there will be stresses in the global system, but India’s exports basket is large.
“My estimate is that we will cross USD 800 billion in exports, another record given the world situation,” he told reporters here.
He added share in services exports is also growing at a rapid pace.
On exports to developing and least developed countries (LDCs), he said those nations have been stressed because of the forex crisis they are facing after the COVID-19 pandemic.
The Red Sea crisis too had impacted shipping lines.
On the new US administration, the minister said: “We are looking forward to a deep and substantive engagement with the new US administration…we are looking forward to working with (Donald) Trump administration again”.