In the fiscal year 2021-22 (April to March), India’s merchandise exports to Bangladesh increased by 64.5 percent over the previous fiscal year 2020-21. The surge in exports to Bangladesh aided India’s overall goods exports to reach $417.8 billion in the fiscal year 2021-22, and it is expected to surpass $418 billion to set a new high in India’s export history. India’s merchandise exports to foreign countries, particularly wealthy countries, have increased significantly. Petroleum products account for 152.1 percent of total exports, followed by cotton yarn, textiles, and handloom items (55.1 percent), and gems and jewellery (49.6 percent). According to Piyush Goyal, one of the most significant growths has been in the agriculture industry, particularly during the Covid-19 outbreak. He also said that India would step up wheat supplies to countries hit by the Ukraine war.
“We will continue to export wheat in a big way to meet needs in countries, who are not getting supplies from conflict areas. We are likely to exceed our wheat exports by over 10 million tonnes in 2022-23,” Goyal said.
