$400 Bn target of Merchandise exports is within sight and the Services sector should strive for $250 Bn exports: Piyush Goyal

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Shri Piyush Goyal, Minister of Commerce and Industry, stated on Monday that exports of USD 650 billion are achievable in the current financial year. Presiding a Review Meeting of the major Export Promotion Councils (EPCs), the minister said that the, $400 billion, target for merchandise exports is within reach, while the services sector should aim for $250 billion in exports.

Revealing that India has achieved $300 Bn Merchandise exports in the first nine months from April to December of the current FY, he 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 Financial Year.

He also said that we can set a much higher goods exports target in the current last quarter of this Financial year. “In December alone we touched $37 Bn goods exports despite the Omicron fear factor weighing high. This month, in 15 days till January 15th, we have reached $16 Bn.”

Goyal encouraged EPCs and entrepreneurs to avail advantage of the government’s Ease of Doing Business efforts, such as obtaining approvals through the National Single Window System. During the different FTA negotiations, he guaranteed the industry representatives that he would pursue their demands.

According to the data, more than 25,000 compliances have been reduced as a result of the government’s efforts. The Minister assured that the government is open to new ideas, is eager to engage with industry at all levels, and is willing to act as an enabler, facilitator, and partner.

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