• December 4, 2021

Nation working towards making a quantum jump in merchandise exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said the nation is working towards making a quantum jump in merchandise exports. He said this has been made possible due to the structural changes initiated by the government.

The Minister said merchandise export target of 400 billion dollars for 2021-22 has been set, in line with Prime Minister Narendra Modi’s clarion call of “Local goes Global: Make in India for the World”. The Minister said this during a meeting with Export Promotion Councils, Commodity Boards and Authorities and other stakeholders in Mumbai today, to discuss measures to enhance and increase exports.

The Minister asked the export community to also target 2 trillion dollar exports by 2030, comprising one trillion dollar merchandise exports and one trillion dollar services exports. He announced that two separate divisions are being set up in the Commerce Ministry focused on the services sector, in order to attain the one trillion services exports target.

He informed that the Free Trade Agreement strategy is being revamped. Informing about the progress of FTAs with various developed countries, the Minister informed that there is positive momentum in terms of FTAs, with the UK, EU, Australia, Canada, UAE, Israel and the GCC countries.

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