Mumbai, Sept. 28 -- India's merchandise exports have risen 15 per cent till September 21 during this fiscal year despite global economic uncertainties triggered by the ongoing wars, Commerce and Industry Minister Piyush Goyal said
on Monday.
Addressing the media after the 14th India-UAE High Level Task Force on Investment meeting here, the minister also said the UAE - India's seventh largest source of foreign direct investment (FDI) - has expressed an intent to invest another $25 billion in the near future, with the ultimate objective of taking its investments in India to $100 billion in the years to come.
"We have increased our merchandise exports by upward of 15 per cent in the first six months (up to September 21) this year, which is a pretty important and significant achievement given the fact that we are living in a world where two wars are going on and the Strait or Hormuz, which is our principal sea route, is facing so much stress," Goyal said.
During April-August this financial year, exports jumped 17.85 per cent year-on-year to $215.91 billion, and imports climbed 18.21 per cent to $363 billion.
Published by HT Digital Content Services with permission from Millennium Post.