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Wednesday, October 20, 2021

Exports on track for FY22, aim $450-500 bn next year: Piyush Goyal

Goyal said that with 48 per cent of the targeted volumes having been achieved, exports are on the right track to meet this year’s target of $400 billion.

By: ENS Economic Bureau | New Delhi |
October 10, 2021 3:25:52 am
Commerce and Industry Minister Piyush Goyal

The nation’s exports are growing at a healthy rate and exporters can now aim for outbound shipments worth $450-500 billion in the upcoming financial year, Commerce and Industry Minister Piyush Goyal said on Saturday.

In April-September this fiscal, exports touched $197 billion, he added. Goyal said that with 48 per cent of the targeted volumes having been achieved, exports are on the right track to meet this year’s target of $400 billion.

“Our exporters have made all of us Indians proud today … we can aim to scale $450-500 billion exports next year,” Goyal said, while chairing the mid-term review of exports with different export promotion councils.

He also said that India is negotiating free trade agreements (FTAs) with various countries and blocs, including the United Kingdom, Oman, Australia, Canada, Russia, the United Arab Emirates, the European Union, and the Southern African Customs Union comprising Botswana, Lesotho, Namibia, South Africa, and Swaziland.

Goyal said engineering goods have much more potential and textile exports should aim for $100 billion.

On the issue of high global prices of polymers and uniform application of environment laws, he assured that the Commerce and Industry Ministry will take up the issue with the Environment Ministry.

With PTI inputes

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