Goyal, Union minister of commerce and industry, consumer affairs, food and public distribution, and textiles, said that the last nine years had been unprecedented as inflation had been consistently under control in the range of 4-4.5 per cent except for a short period last year. Interest rates in other developed countries are almost at par with India now.
Goyal said that the target of achieving $1 trillion export of goods and $1 trillion of services is a modest target now. He added that the overall exports had been at $500 billion for almost a decade and reached $676 billion last year despite the difficulties faced across the world. The minister said that the overall exports of $776 billion in fiscal (FY) 2022-23 with $450 billion of merchandise exports and $326 billion of services exports is a laudable national achievement.
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