Recovery In India's Exports Broad-Based, Confident Of Achieving $400 Billion Export Target In FY22: Commerce Secretary

Recovery In India's Exports Broad-Based, Confident Of Achieving $400 Billion Export Target In FY22: Commerce SecretaryRise in engineering export goods. (GettyImages)

The Union Commerce Secretary Anup Wadhawan has exuded confidence that India can achieve the $400 billion exports target in the ongoing FY22, reports Economic Times.

On being asked about revision of the $400 billion export target, Wadhawan said, “I’m confident we can achieve. I don’t foresee any major impact on our export prospects. Our performance indicates good prospects.”

Wadhawan’s assertion gains significance as in April, the country recorded exports worth $30.63 billion despite supply chain challenges and movement restrictions in different parts of the country due to the second wave of COVID-19 cases.

Wadhawan also noted that while pharmaceutical and rice exports are all doing well, the exports of gems, jewellery, leather and manmade yarn are also picking up which augurs well for FY22.

The commerce secretary also said that exporters were not facing any major issues on the logistics front because of the restrictions due to COVID-19. He also noted that the sectors which did well in FY21 have done some market diversification.