Exports target of $650 billion within this fiscal achievable: Goyal

Assuring all support to the exporting community, Commerce and Industry Minister Piyush Goyal on Monday said the exports target of $650 billion for both goods and services within the current financial year is possible to achieve.

He informed that during the current month till January 15, exports have touched $16 billion.

He said this while chairing a review meeting of all major export promotion councils (EPCs) here.

“It is possible to achieve exports of USD 650 billion within the current financial year… The USD 400 billion target of merchandise exports is within sight and the services sector should strive for USD 250 billion exports,” he said.

He assured the EPCs that his ministry will do “whatever” it takes in hand holding them and resolving their issues to attain even higher export targets in the next fiscal (2022-23).

The minister also assured the industry representatives to pursue their demands during the various free trade agreement (FTA) negotiations.

“The government is willing to listen to new ideas, engage with industry at every level and work as an enabler, facilitator and partner,” he added.

India’s overall exports (merchandise and services) during April-December 2021 are estimated to be $479.07 billion, exhibiting a positive growth of 36.31% over the same period last year.