Aim for $450-500bn exports next year: Piyush Goyal to exporters

The country’s exports are growing at a healthy rate and now exporters can aim for $450-500 billion of outbound shipments during the next fiscal year, Commerce and Industry Minister Piyush Goyal said on Saturday. Exports have touched $197 billion during April-September this fiscal, he said.

Mr. Goyal said with 48% of the targeted volumes have been achieved, exports are on the right track to achieve 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,” he said while chairing 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 U.K., the UAE, Oman, Australia, Canada, the EU, Russia and the Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa, and Swaziland.

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

Further stating that Prime Minister Narendra Modi will unveil ‘Gati Shakti’ programme on October 13, Mr. Goyal invited the council heads to join the event by video-conferencing.

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