USD 650 billion exports achievable, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that India can achieve exports target of $650 billion in the current financial year. Chairing a Review Meeting in New Delhi on Monday,  of all major Export Promotion Councils (EPCs), Goyal said, the 400 Billion dollars target of Merchandise exports is within sight and the Services sector should strive for 250 Billion dollars exports. Expressing his satisfaction that India achieved 300 Billion dollars Merchandise exports in the first nine months of the current Financial Year April to 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 Financial Year. The Minister said, we can set a much higher goods exports target in the current last quarter of this Financial Year. He said, in December alone, we touched 37 Billion dollars goods exports despite the Omicron fear factor weighing high. He added that this month, in 15 days till January 15th, we have reached 16 Billion dollars. Goyal said Prime Minister Narendra Modi has himself set the pace by setting transformational results and not incremental growth.

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 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 thousand compliances have been reduced. 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.