India's Export Boom: Crossing the $800 Billion Mark

India's merchandise and services exports are expected to surpass USD 800 billion this fiscal, driven by government support and competitive domestic products. The opening of 12 new industrial cities aims to enhance manufacturing. Despite global challenges, Indian exporters report robust orders from developing and developed economies.

India is set to reach a significant milestone with its merchandise and services exports projected to exceed USD 800 billion this fiscal year. This growth is propelled by strategic government initiatives and the competitive edge of domestic products, according to industry sources.

The government has launched a series of measures to elevate the industry's global standing. These include reducing compliance burdens and promoting ease of doing business, as highlighted by A Sakthivel, Chairman of the Apparel Made-ups and Home Furnishing Sector Skill Council.

Further boosting the domestic manufacturing landscape, plans are underway to establish 12 new industrial cities. Moreover, despite global geopolitical challenges, Indian exporters are securing significant orders from both developed and developing nations, marking a promising outlook for the sector.

(With inputs from agencies.)