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South Western Railway CPRO Aneesh Hegde is watching the press conference of Minister of Railways, Electronics and IT and Communications Ashwini Vaishnaw held via video link in Hubballi on Thursday.
| Photo Credit: KIRAN BAKALE
Minister of Railways, Electronics and IT and Communications Ashwini Vaishnaw has said that the country’s exports have reached $762 billion of which $453 billion is from goods exports and the remaining $ 309 billion from export of services.
Speaking to media persons in Bengaluru and Hubballi via video conference on Thursday, Mr. Vaishnaw said that mobile phones exports is expected to reach $15 billion in the current fiscal.
The Minister said that Indian economy has reached a major inflection point now under the leadership of Prime Minister Narendra Modi with a huge thrust being provided to manufacturing sector through Make in India initiative.
He said that manufacturing led economic growth has provided the foundation for the nation developing as a $1 trillion economy. Such growth has contributed directly to the increase in formal employment opportunities for youths. Earlier, formal employment opportunities per month formed six lakh on an average and it has now risen to an average of 14-15 lakh per month, he said.
The Minister said that petroleum used to dominate the country’s exports earlier and now India is emerging as a leader in exports of telecom equipment, pharmaceuticals, motor vehicles, electronic components and many more products.
In the last fiscal, India exported mobile phones worth $11 billion and during 2023-24, it is expected to reach $15 billion, he said.
