Goods (Merchandise) sector surpasses services sector in export for first time, Government says

The government has said that Goods (Merchandise) sector has surpassed the services sector in export for the first time. Addressing a press conference in New Delhi, Electronics and IT Minister Ashwini Vaishnaw said, this has been possible due to the Make in India initiative of Prime Minister Narendra Modi. He said, the export has reached 762 billion dollars in the last financial year. The Goods (Merchandise) export has gone upto 453 billion dollars, while services export was at 309 billion dollars. Mr. Vaishnaw said India will soon reach one trillion dollar exports.

The Minister said, India has reached fourth position in terms of export of mobile phones due to Make in India scheme. He said, the country has exported mobile phones worth more than eleven billion dollars in the last fiscal. He said, Prime Minister Narendra Modi had launched Make in India initiatives to promote manufacturing the sector in the country. He said, India will soon reach the top two positions in the exports of mobile phones.