India's merchandise & services exports stood at USD 538 bn in 2018-19: Goyal

The value of India's overall exports rose about 8 per cent to USD 538.07 billion during 2018-19, Parliament was informed on Monday. In a reply to a question in the Lok Sabha, Commerce and Industry Minister Piyush Goyal also said that as per the Foreign Trade Policy 2015-20, the government aims to increase the country's export of merchandise and services to USD 900 billion in 2019-20 and raise India's share in world exports (goods and services) to 3.5 per cent.

According to data provided by the minister, India has been registering a growth for the past three years in terms of exports of merchandise and services. In 2013-14, exports valued at USD 466.23 billion. It grew to USD 468.46 billion in 2014-15 and fell to 416.60 billion in 2015-16 and again went up to USD 440.05 billion in 2016-17.

The country's overall exports of merchandise and services rose to USD 538.07 billion in 2018-19 from USD 498.63 billion in 2017-18, up 7.90 per cent.