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June 15, 2024 10:45 AM

India’s foreign exchange reserves touch fresh highs at USD 655.8 billion

India's foreign exchange reserves jumped USD 4.307 billion to touch a new lifetime high of USD 655.817 billion during the week that ended June 7, official data from the Reserve Bank of India (RBI) showed. The reserves have been rising on and off for a long time now. So far in 2024, they have risen over USD 30 billion, on a cumulative basis. According to the latest data released by the Reserve Bank of India (RBI), India's foreign currency assets (FCA), the biggest component of the forex reserve...

India registers record export at USD 778 billion in 2023-24

India registered record exports in the just concluded financial year 2023-24 at USD 778 billion, sources in the commerce ministry said. In the financial year 2022-23, the combined value of exported goods and services stood at USD 776.3 billion. In 2023-24, services exports increased from USD 325.3 billion to USD 341.1 billion, while merchandise exports marginally declined from USD 451.1 billion to USD 437.1 billion. The government has launched the Production Linked Incentive (PLI) scheme with ...