How exports are contributing to PM Narendra Modi's ambitious 'Aatmanirbhar Bharat' mission

India's merchandise exports in September 2021 rose to $33.44 billion, higher by 21.35 per cent on a year-on-year basis, preliminary data showed on Friday. Exports in September 2020 had stood at $27.56 billion.

Data furnished by the Ministry of Commerce and Industry showed that in comparison to September 2019, last month's exports rose by 28.51 per cent.

"Value of non-petroleum exports in September 2021 was $28.53 billion, registering a positive growth of 18.72 per cent over non-petroleum exports of $24.03 billion in September 2020 and a positive growth of 26.32 per cent over non-petroleum exports of $22.59 billion in September 2019."

"Value of non-petroleum and non-gems and jewellery exports in September 2021 was $25.29 billion, registering a positive growth of 18.59 per cent over non-petroleum and non-gems and jewellery exports of $21.33 billion in September 2020 and a positive growth of 33.14 per cent over non-petroleum and non-gems and jewellery exports of $19 billion in September 2019."

Aatmanirbhar Bharat

The data showed that September merchandise exports were higher by 84.75 per cent, on a year-on-year basis, at $56.38 billion from $30.52 billion reported for the corresponding month of last year. Ronak Chiripal, CEO of Nandan Terry, says, "PM Narendra Modi's ambitious 'Aatmanirbhar Bharat' mission is now showing a major impact on the ground. India is the country that not only curbed the 2nd wave of coronavirus timely but turned the crisis into an opportunity too amid the Covid-19 pandemic."

"The performance of the services sector has also been excellent, and despite the pandemic, almost 97 per cent of 2019-20 service export levels were achieved in the last FY. Sector-specific interventions, involvement of all the stakeholders, functioning of the government, simplification of procedures, the extension of timelines and licences have also resulted in the record performance of exports," adds Chiripal.

Boost by government schemes

"Due to the boost given by the government by means of various promotional initiatives including the PLI scheme, now exports hold nearly 40% contribution in India's GDP. And, this is yet another step towards a self-reliant India. Keeping the highest-ever merchandise exports of $95 billion in the April-June quarter of the current fiscal year in mind, India is gearing up to establish new records in exports in coming years. Going by the performance in the first quarter of the fiscal, an ambitious target of $400 billion exports has been set for 2021-22," Chiripal further added.

Clear vision and focus

"India showcased overwhelming export performance as compared to major economies of the world. As compared to April 2019, India's exports growth during April 2021 was higher than other major advanced economies like the European Union, Japan, the US, South Korea, and the UK. With a clear vision and focus, India is poised to further create major milestones and benchmarks in terms of exports. At the moment, the entire world knows that India is a trusted and reliable partner because India has the capability to provide quality products and services on time," Chiripal concluded.