India's merchandise exports rose by 17.1 per cent year-on-year to $192 billion in the first five months of the current financial year, Commerce Secretary BVR Subrahmanyam said on Saturday.
Addressing a press conference, Subrahmanyam said, "services exports have done very well. April to July services export are $95 billion and they are on track to break all records this year."
"We are being buffeted by strong winds globally. We have disruptions that are happening because of Ukraine and Russia. We are very aware of the high inflation rates. We are aware of the actions being taken by various central banks across the world," he said.
The Commerce Secretary said India's exports are expected to surpass $750 billion in the current financial year. "The good thing is that our exports are holding ground. After a very detailed analysis on a very conservative basis, Indian exports this year will cross $750 billion," he said.
Subrahmanyam said inflation is a major concern. "Our primary concern currently is inflation. Some lifting is done by RBI. Some have to be done by governments," he said.
"In the 75th year of independence, we have the target of $750 billion export target," Subrahmanyam said.
( With inputs from ANI )
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