New Delhi, April 16 -- The Commerce Ministry has estimated Indias overall exports at USD 776.68 billion in the financial year 2023-24, despite facing global headwinds and challenges.
Although the increase was marginal compared to the previous year's record of USD 776.40 billion, the growth was driven by strong services exports, which offset a 3.11 per cent contraction in merchandise exports.
Merchandise exports declined to USD 437.06 billion in FY24, while services exports grew by an impressive 4.4 per cent to reach a record USD 339.62 billion.
This remarkable performance in services exports compensated for the decline in merchandise exports, enabling India to surpass its overall exports figures from the previous year.
Commerce Secr...