India expects exports to hit $400 billion in 2021-22; December exports surge 37% to record $37.29 billion: Piyush Goyal

India expects to achieve its export target of $400 billion in the current fiscal year that runs through March, Trade Minister Piyush Goyal said on Monday.

India’s exports in the April-December period came to about $300 billion, Goyal said.

As per the Preliminary Data for December 2021, India’s merchandise export in December 2021 was USD 37.29 billion, the highest ever monthly achievement, which shows an increase of 37.0% over USD 27.22 billion in December 2020 and an increase of 37.55% over USD 27.11 billion in December 2019.

Piyush Goyal, Union Minister for Commerce and Industry, Textiles, Consumer Affairs, Food & Public Distribution called it a historic achievement and attributed it to the leadership of Prime Minister Narendra Modi. He also congratulated all the EPCs, exporters and Indian Embassy officials all across the globe for contributing to this historic achievement.

The #MakeInIndia Lion Roars Loud & Clear! 

India records its highest-ever monthly goods exports in December 2021. 

Watch my media briefing on the latest export data, reflecting the resilience of the Indian Economy.

https://t.co/iNpVI20lgm pic.twitter.com/Y5yuu3FtXi

— Piyush Goyal (@PiyushGoyal) January 3, 2022

India’s merchandise export in April-December 2021 was USD 299.74 billion, an increase of 48.85% over USD 201.37 billion in April-December 2020 and an increase of 25.80% over USD 238.27 billion in April-December 2019.

India’s merchandise import in December 2021 was USD 59.27 billion, an increase of 38.06% over USD 42.93 billion in December 2020 and an increase of 49.7% over USD 39.59 billion in December 2019.

India’s merchandise import in April-December 2021 was USD 443.71 billion, an increase of 69.27% over USD 262.13 billion in April-December 2020 and an increase of 21.84% over USD 364.18 billion in April-December 2019.

The trade deficit in December 2021 was USD 21.99 billion, while it was 143.97 billion USD during April-December 2021.