India will set its sights on achieving single-digit export growth in 2023-24 as it is unlikely to sustain the doubledigit growth seen in the previous two financial years because of two key reasons-a high base, and weak global demand due to persisting geopolitical adversities, a senior official said.
With most global economies facing strong headwinds, a yearon-year double-digit export growth in 2023-24 is unlikely, particularly because of the very high base it achieved in FY22 and FY23, the person added, requesting anonymity. India's overall (merchandise and services) exports posted 35.88% annualised growth to $677 billion in 2021-22, which further jumped by 13.84% to $770 billion in 2022-23.
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