Exports, FDI numbers indicate Indian economy is back in action: Goyal

Indian economy is back in action and it is clear from several indicators such as rising exports and increasing foreign direct investment (FDI) inflows into the country, Commerce and Industry Minister Piyush Goyal said on Friday.

He said that merchandise exports during April-October this fiscal stood at USD 232 billion and total FDI during the first four months of this fiscal rose by 62 per cent.

There was growth in employment over the same month last year, and manufacturing PMI rose to 55.9 in October while services PMI reached a decade high of 58.4 in the month, Goyal said.

"India is back in action and the decade is shaping up to be a growth decade, with our exports surging and FDI in-flows and investments following a high growth trajectory," he said at a virtual conference.

He said that global sentiments are changing from 'Why India' to 'Why not India' to now Make in India for the world' and serve the world from India.

Ensuring transparent, trustworthy and resilient supply chains is at the core of trade revival and India has emerged as a source of resilience and a trusted partner during COVID-19, he said.