Exports surpass $300 billion in the first 9 months of 2021-22

India's exports crossed $300 billion in the first 9 months of 2021-22, the first time ever that this has occurred. Exports reached a cumulative $299.74 billion in April-December of FY22, an increase of 48.8 percent over the April-December period of FY21 and an increase of 25.8 percent over FY20.

Official data also showed that in the October-December quarter (Q3) exports racked up a cumulative $ 103 billion worth of foreign exchange earnings, the highest ever in any Q3.

Sector-wise, export of engineering goods increased 37 percent, Gems and jewelry increased by 16 percent, Readymade garments increased by 22 percent, and electronics increased by 33 percent.

Trade Agreements ahead

Google said that India is charging full steam ahead on a host of free trade agreements it is currently negotiating. He said the government is close to concluding an interim trade deal with Australia, while trade negotiations with the UK are set to begin this month, with a tentative end date of March, later this year.