Record shipments in FY19 raise export footprint in GDP after 5 years

But credit largely goes to petroleum and gems & jewellery, as share of core exports remains stagnant

After a gap of five years, exports in 2018-19 saw their footprint on the country's Gross Domestic Product (GDP) rise, but the hope of diversifying the export basket remains a distant dream, with the share of non-petroleum and non-gems and jewellery shipment values remaining stagnant in overall outbound trade.

While trade receipts reached record a high of $331 billion in the last financial year, they failed to achieve the Commerce Department's internal target of $350 billion. But policymakers remain more worried over the difficulties of diversifying exports. Taking away the high value petroleum and gems & jewellery exports, the share