What’s in the news?
- India has recorded the highest ever merchandise export of 95 billion dollars in the first quarter of April to June this year despite the severity of the second wave of COVID-19 pandemic.
- Also, the country has received the highest ever FDI inflow of 81.72 billion US dollar in the last financial year.
- Commerce and Industry Minister Piyush Goyal said that India has set a target of 400 billion US dollar merchandise exports in this financial year.
- Sector specific government’s interventions, involvement of all the stakeholders and simplification of procedures have resulted in record performance of exports.