India’s exports rose significantly in January 2023, according to the Commerce and Industry Minister, Shri Piyush Goyal. He mentioned this while addressing the council at the national export excellence award function in New Delhi. The minister urged the industry to explore new territories, innovate, and forge new collaborations to achieve increased exports. As per preliminary data released by the government, India’s merchandise export in January 2023 was USD 34.06 billion, an increase of 23.69% over USD 27.54 billion in January 2021 and an increase of 31.75% over USD 25.85 billion in January 2020. The value of non-petroleum exports in January 2023 was USD 30.33 billion, registering a positive growth of 19.4% over non-petroleum exports of USD 25.4 billion in January 2021 and a positive growth of 33.81% over non-petroleum exports of USD 22.67 billion in January 2020. During April-December 2022-2023, overall exports rose 9 percent to USD 332.76 billion, while imports increased 24.96 percent to USD 551.7 billion.
