Lead Story

Make In America Challenge For India

After a decade of weak exports, India achieved a record in merchandise exports in FY22. Can Joe Biden’s plan to shift manufacturing back to the US be a dampener?

Prime Minister Narendra Modi in a meeting with US president Joe Biden at the White House last year

In March, India achieved the target of $400 bn in exports even before the fiscal ended. It had achieved the last fiscal high in 2018, when it recorded exports worth $330 bn. Clearly, India’s export sector, plagued by a decade of lackluster performance, is on a roll and has beaten the pandemic.