The Indian economy appears to be doing well in the international market.
The government’s official statistics department, the Central Statistics Office (CSO), recently released its annual foreign exchange report for the financial year ended March 31, 2018.
The report also showed that the Indian rupee has risen by 15 paise to about 64.5 against the US dollar and that India has become the fifth largest exporter of rupees.
The growth in rupee in the last five years is in contrast to the slow growth of the rupee-denominated Euro, which declined by 5.2% to 0.6563 rupees in the same period.
This year, the Indian currency has risen 10.4% against the dollar and 11.5% against Euro.
In contrast, the Euro has fallen by 12.4%, according to Eurostat data.
The government also reported that its exports increased by 6.3% to USD 2.5 billion.
In this fiscal year, exports to India amounted to USD 6.4 billion, while imports amounted to US$ 5.4 trillion.
The Indian economy grew by 8.9% in the current fiscal year to USD 3.9 trillion, while the GDP growth rate stood at 5.8%.
The government is targeting a 10% annual growth in GDP.
In the fiscal year 2017-18, India was among the top 15 exporters of goods and services in the world, according to a report by the United Nations.
The foreign exchange market in India has witnessed strong growth since the implementation of the Goods and Services Tax (GST) in July 1, 2018 and has witnessed a sharp decline in the dollar.
The increase in the value of the Indian Rupee against the USD in 2017-2018, which came at a time when the rupees exchange rate was about US$ 1.45 to US$.
The rupee strengthened by about 3% against USD and fell by 4.7% against euro.
However, the rupe is still at its previous level.
In the year ended December 31, 2017-19, the Rupee was at about US$.7.
In 2019-20, the currency had fallen by 5%.
India is a major exporter and a major buyer of US$10 trillion worth of goods in the year 2017, according the United States Governmental Expenditure Accounts (GSAAs).
The government has taken measures to boost the exports of the country.
It has initiated an ambitious plan to reduce the burden of foreign direct investment and promote exports to the world’s largest economy.