Beyond $400 billion

Exports need policy support

The ongoing export boom has enabled India to attain the $400 billion target set for the current fiscal year. At the current rate, India could end the fiscal year with total merchandise exports of about $410 billion. This is a significant achievement, particularly given the near-stagnant level of exports over the past several years. Higher exports in the current year have been facilitated by all-around performance with engineering goods, petroleum products, and chemicals playing a significant part. While India has reasons to celebrate, it remains to be seen for how long the trend sustains. Meanwhile, higher global commodity prices have