Spectacular exports growth coupled with orders in hand will push India’s exports in next fiscal: FIEO

Ludhiana, December 29, 2021: Commenting on the interim data for the first three weeks of December exhibiting over 35% growth in exports, Dr A Sakthivel, President, FIEO said that such performance is remarkable and better than anticipated by us since lot of exports have been frontloaded and shipments generally meant for December have already been exported in November or earlier. Moreover, our exporters across sectors are flushed with orders for the next fiscal pushing the growth prospects. We will also be having the additional exports coming from some of the PLI sectors in the next fiscal pushing overall exports and continuing us on the same growth path. The Mega Textile Parks and Food Parks will also have a spin off effect on the export of Food & Textile products.
 
President, FIEO also countered the news reported in some of the dailies stating that US$ 500 Bn target may elude us. Dr Sakthivel said that since India will be adding over US$ 130 Bn or so in the current fiscal, we should aim to build on the same and thus aim much higher. Since we are likely to cross US$ 400 Bn in 2021-22, we should focus and aim for exports in the vicinity of US$ 525-530 Bn in 2022-23.
 
Looking into the enabling eco-system provided for the manufacturing, Dr Sakthivel urged the industry to come forward to create capacities to meet the increasing demand as global focus is on India.