Govt Eyes $650 Billion Exports Target In Current Financial Year

Union Minister of Commerce and Industry Piyush Goyal on Monday (17 January) said the exports target of $650 Billion within the current financial year is achievable.

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 services sector should strive for $250 billion exports.

Expressing his satisfaction that India achieved $300 billion Merchandise exports in the first nine months of the current FY (April-December 2021), 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 FY, the Commerce Ministry said in a statement on Monday.

Goyal said a much higher goods exports target could be set in the current last quarter of this financial year.

“In December alone we touched $37 billion goods exports despite the Omicron fear factor weighing high. This month, in 15 days till January 15th, we have reached $16 billion,” Goyal said.

The 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 asked the industry representatives to pursue their demands during the various free trade agreement (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 reduced.

The minister further 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.