Merchandise and services exports rose 8% to $538 bn in 2018-19: Goyal

The value of India's overall exports rose about 8 per cent to $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 $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 $466.23 billion. It grew to $468.46 billion in 2014-15 and fell to 416.60 billion in 2015-16 and again went up to $440.05 billion in 2016-17.

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