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Services exports from India reach all-time high of $250 billion in FY22

"The way IPL fever is gripping the nation, on international forums India's reputation has been scaling new heights," Goyal said.

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New Delhi: Services exports from the country reached all-time high of $250 billion in financial year 2021-22 reflecting strong rebound in post-pandemic times.

Merchandise exports had also surpassed annual target of $400 billion during the year ending March 31, 2022. Sharing the provisional official data, Commerce and Industry Minister Piyush Goyal said that the milestone was achieved despite travel, tourism, aviation and hospitality sectors being severely affected by pandemic.

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“The way IPL fever is gripping the nation, on international forums India’s reputation has been scaling new heights,” Goyal said.

He thanked all the professionals such as management consultants, accountants, company secretaries, engineers and architects who contribute significantly towards services exports.

Goyal noted that initially the services export target was kept at $225 billion and then was raised to $240 billion as the year progressed but the actual exports have comfortably exceeded the target.

“This is provisional figure but I think that by the time final figures come it will further go up,” Goyal said. 

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