Despite the global headwinds, the export of goods and services from the country is projected highest at 8% by IMF in 2019 as per a recent estimate. According to Rajeev Talwar, President, PHD Chamber of Commerce and Industry, this growth projection is highest in the leading top 20 exporting countries.
The exports of goods and services are expected to increase from US $ 540 billion 2018-19 (estimated) to US $ 600 billion in 2019-20. The growth of exports of goods and services from India have been found significantly strong as compared with the competitive economies such as China, Korea, Singapore, Germany, Japan, etc.
However, there is a strong need to increase the volume of the exports of goods and services with enhanced product and market diversification, Talwar maintained. The further improvement in logistics infrastructure and trade facilitation measures would enhance the exports growth trajectory and create millions of new jobs opportunities, he added.