The share of export of goods and services in India’s gross domestic product (GDP) rose to 21.4 percent in fiscal 2021-22 (FY22) from 18.7 percent in the previous fiscal, according to data from the Ministry of Commerce and Industry. The share of exported readymade garments of all textiles in the annual GDP in FY22 was 0.50 percent against 0.46 percent in 2020-21.
The share of exported cotton yarn, fabrics, made-ups and handloom products, etc. in the annual GDP in FY22 was 0.48 percent against 0.37 percent in FY21.
The country’s export of goods and services rose to Rs. 50,63,885 cr in FY22 while its GDP stood at Rs. 2,36,64,637 cr, Minister of State for Commerce and Industry Anupriya Patel said in a written reply in the upper house of the parliament.
The overall share of goods exports in GDP has increased from 10.9 percent in 2020-21 to 13.3 percent in 2021-22.
In FY18, the share of export of goods and services stood at 18.8 percent of the GDP. It rose to 19.9 percent in FY19, but declined to 18.7 percent in FY20, the Ministry said.
During FY21, the share of export of goods and services stood steady at 18.7 percent of the GDP.