India’s merchandise exports increased to a record high of 417.8 billion U.S. dollars in 2021-22 fiscal year ending March on higher shipments of petroleum products, engineering goods, gem and jewellery and chemicals, the Commerce and Industry Ministry said in a statement Sunday.

“Merchandise exports from India have reached 417.8 billion U.S. dollars in the current financial year,” said the statement. “This figure excludes the figures from non-Electronic Data Interchange (EDI) ports and it is likely to exceed 418 billion U.S. dollars, an all-time high in India’s export history.”

According to the ministry, India has achieved the highest monthly value of merchandise export in March 2022 amounting 40.38 billion U.S….

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