India's exports cross $750 billion, PM Modi praise saying "this is the spirit"

New Delhi: Prime Minister Narendra Modi on Wednesday praised the people for India's exports crossing $750 billion. He said this is the spirit that will make India self-reliant (aatmanirbhar) in the times to come.

"Compliments to the people of India for this feat. This is the spirit which will make India Aatmanirbhar in the times to come," he tweeted.

"I can say with great pride, happiness, and thanks to all your efforts that India has crossed in its 75th year of independence, as we speak today, USD 750 billion of exports," said the Prime Minister. He was reacting to the announcement made by Commerce and Industry Minister Piyush Goyal saying that India's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31.

PM Modi's flagship Make in India scheme, the Production Linked Incentive (PLI) programme, is being hailed as a major factor in the success of the export sector. According to ET, some sectors - smartphones, furniture, and toys - have shown a significant rise in export numbers under the scheme. Official data from various government websites shows that mobile phone exports crossed a whopping Rs 67,333 crore in exports till January 2023. The Directorate General of Foreign Trade (DGFT) Santosh Kumar Sarangi also highlighted that mobile phone exports have seen a pickup.

The government is also focused on developing a Rs 3,500-crore PLI scheme to promote domestically produced toys. It is also considering Rs 16,211 crore in the furniture domain. The PLI program was launched by Finance Minister Nirmala Sitharaman in the February 2021 Budget.