PM Modi Sets Export Target Of $400 Billion For This Year

Prime Minister (PM) Narendra Modi has asserted that positive signs of recovery and high growth make it the right time to set high targets for export.

In an address to businesses, exporters, Indian ambassadors in foreign missions, PM Modi laid out plans to prepare a strategy and aim for exports worth $400 billion this year.

Speaking in the backdrop of the government's move to slash the regime of retrospective taxation, the PM explained that exporters understand the importance of stability.

Regarding the $400 billion export target, PM Modi opened up on four integral components that can help drive this initiative. They are: a) removing challenges related to logistics and transport, b) working closely with exporters, c) increasing manufacturing and d) linking Indian products with overseas markets.

"Given the size of our economy, potential, and our manufacturing and services base, there is a massive scope for increasing exports," the Prime Minister's statement was quoted in a report by the Times of India.

He added, "When the country has embarked on the path of Atmanirbhar Bharat, one key focus is to increase India's share in exports and global supply chain many times.