India's merchandise exports for the 2022-23 fiscal year reached $447 billion, up from $422 billion in the previous year, according to a statement by Commerce and Industry Minister Piyush Goyal. Final figures for both goods and service exports will be released in mid-April. Goyal estimated that service exports would surpass $320 billion for the year. He added that, despite supply chain challenges such as rising commodity prices and pandemic-related trade disruptions, he expected that India’s total exports would rise from $765 billion to a potential $772 billion this fiscal year.