India’s annual export target of $650 billion within reach: Piyush Goyal
20 Jan 2022
India’s merchandise exports is set to achieve the target of$400 billion and with service sector striving for exports of $250 billion, the country’s total exports could reach the $650 billion figure, minister of commerce and industry, consumer affairs, food and public distribution and textiles, Piyush Goyal has said.
Chairing a review meeting of all major Export Promotion Councils (EPCs), Goyal said the $400 billion target of merchandise exports is within sight and the service sector should strive for $250 billion exports, adding, that the country can set a much higher goods exports target in the last quarter of this FY.
“In December alone we touched $37 billion goods exports despite the Omicron fear factor weighing high," Goyal pointed out.
Expressing satisfaction that India achieved $300 billion merchandise exports in the first nine months of the current financial year (April-December 2022), Goyal assured the EPCs that his ministry will do whatever it takes in handholding the EPCs and resolving their issues to attain even higher export targets in the next fiscal.
Goyal said Prime Minister Narendra Modi has set the pace by setting “transformational results” and not “incremental growth”.
The commerce and industry minister urged the EPCs and entrepreneurs to avail of the government’s initiatives towards Ease of Doing Business such as obtaining clearances through the National Single Window System. He assured the industry representatives to pursue their demands during the various FTA negotiations.
Speaking of the government’s efforts to improve the ease of living and the ease of doing business, Goyal said that more than 25,000 compliances have been done away with.
The minister assured that the government is willing to listen to new ideas, engage with industry at every level and work as an enabler, facilitator and partner.