India’s exports likely to reach US$900bn this yearReuters, NEW DELHIIndia’s exports of goods and services could reach US$900 billion in the current financial year, up from US$770 billion the previous year, remaining resilient despite global headwinds, Federation of Indian Export Organisations director general Ajay Sahai said. India’s exports have increased by more than US$200 billion in the past two years, led by a surge in software, mobile technology, agricultural and petroleum exports. Exports of agricultural, petroleum and electronic goods remained strong in Western markets due to pricing factors, while exports to Asian and Middle East countries have grown substantially, exporters said. “Indian exporters are hopeful that both countries would soon work out a mechanism allowing payments in local currencies that would facilitate the shipments of Indian goods to Russia,” Sahai said. However, Indian officials have said Russia was reluctant to accept payments in rupees for its oil exports.

Source: Taipei Times May 04, 2023 18:38 UTC