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India's goods, services export to touch $540 billion this fiscal: Commerce Minister Suresh Prabhu

In total, both "merchandise and services exports put together will reach about USD 540 billion" by the end of this fiscal, said Suresh Prabhu

twitter-logo PTI   New Delhi     Last Updated: March 29, 2019  | 08:56 IST
India's goods, services export to touch $540 billion this fiscal: Commerce Minister Suresh Prabhu
File photo of Commerce Minister Suresh Prabhu.

India's merchandise and services export would touch $540-billion mark this fiscal, Commerce Minister Suresh Prabhu said Thursday.

He said exports are growing at a healthy pace and shipments of goods would reach over USD 330 billion.

Similarly, services exports would touch about $200 billion, according to Prabhu.

In total, both "merchandise and services exports put together will reach about USD 540 billion" by the end of this fiscal, the minister said here at a function.

During April-February 2018-19, the goods exports grew by 8.85 per cent to USD 298.47 billion.

Talking about the stalled negotiations for a free trade agreement between India and European Union, the minister said India is keen to resume the talks.

"We are really keen to have this FTA with EU. India will work to find a workable deal," he said.

The negotiations for the pact, officially dubbed as the Bilateral Trade and Investment Agreement (BTIA), have been held up since May 2013 and have witnessed many hurdles.

The negotiations for the pact were launched in 2007.

Also read: Commerce ministry introduces online facility to obtain export licence for restricted items

Also read: Govt extends IGST, compensation cess exemption under various export promotion plans till March 2020

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