Aim For $450-$500 Billion Exports Next Year: Piyush Goyal To Export Promotion Councils

Union Minister of Commerce and Industry Piyush Goyal has called the Export Promotion Councils for $450-$500 billion exports next year.

Addressing a Mid-Term Review Meeting with heads of various Export Promotion Councils (EPCs) through video conferencing on Saturday (9 October), Goyal directed discussions with all stakeholders before the new Foreign Trade Policy is finalised soon.

Expressing satisfaction on India’s exports bouncing back by touching $197 billion in the first half of FY2021-22, Goyal said with 48 per cent targeted volumes achieved, we are on the right track.

“Our exporters have made all of us Indians proud today,” said Goyal, adding that setting the bar higher “if we can aim to scale $450-$500 billion exports next year".

The minister said engineering goods have much more potential and textile exports should aim for $100 billion. “You must have seen we are coming out with schemes,” said Goyal, referring to the various PLI schemes announced by the government recently.

Goyal said the government is negotiating FTAs with various countries and blocs including the UK, UAE, Oman, Australia, Canada, EU, Russia and Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa, and Swaziland.

“Equitable, fair and balanced and to the benefit of the Indian exporters, you will have to raise whatever are your concerns,” Goyal said, adding mostly issues are related to market access rather than tariffs.

Stating that the Prime Minister Narendra Modi will unveil his most ambitions Infrastructure Development vision, - ‘Gati Shakti’ programme on Ashtami, the day of Goddess Durga representing Shakti on 13th October, Goyal invited the Export Council heads to join the event by VC and participate with infrastructure issues of related export sectors. The National Logistics Policy has also been unveiled recently and exporters should flag their concerns, he added.

On the issue of high global prices of Polymers and uniform application of Environment Laws, the input for the Plastics sector, Goyal assured the Commerce Department will take it up with the Environment Ministry on allowing import of virgin plastics scrap and related issues.

Asking Export Councils to identify and name Exporters whose products fail to meet international standards and are often rejected due to inferior quality, the minister said the EPCs have not identified specific exporters hurting the reputation of ‘Made in India’ products in the world markets despite repeated reminders.

“Quality will define the future of our exports,” he quipped.