The Economic Survey has rightly identified the transformational role of exports in pushing the economic growth in 2021-22 as we move towards the new milestone of $ 400 bn exports during the current fiscal, said President, FIEO. The export performance is more remarkable as the same has been achieved with just 3.4 percent depreciation in Indian rupee during April-December, 2021, which is very modest as compared to other emerging economies and appreciation against Euro, Pound and Yen, added Dr. Sakthivel.
The export growth has been widespread also as traditional sectors such as agriculture, textiles, gems & jewellery, besides sunrise sectors such as electronics and high-end engineering have shown spectacular growth. FIEO exuded confidence in building on such a strong export base buoyed by the Free Trade Agreements with UK, UAE and Australia in the current year followed by Canada, GCC, EU and SACU regions to follow. Moreover, we will have a strong manufacturing base through the PLI scheme, which will also add to exports in 2022-23, as some of the investments flowing to such sectors will mature by next year, helping us to move towards $ 520-530 Bn merchandise exports in the next fiscal, said FIEO.
