October 10, 2021
1 min read

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

The minister also said that engineering goods have much more potential, while textile exports should aim for $100 billion. …reports Asian Lite News

 Union Minister Piyush Goyal on Saturday called upon various Export Promotion Councils (EPCs) to aim for $450-$500 billion exports next year.

Addressing a mid-term review meeting with the heads of various EPCs, Goyal, the Union Minister of Commerce and Industry, pointed out that India’s exports have bounced back, 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”.

The minister also said that engineering goods have much more potential, while textile exports should aim for $100 billion.

“You must have seen we are coming out with various schemes,” said Goyal, referring to the several PLI schemes announced by the Centre recently.

Additionally, Goyal pointed out that the Centre is negotiating FTAs with various countries and blocs, including the UK, the UAE, Oman, Australia, Canada, EU, Russia and the 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 that mostly the issues are related to market access rather than tariffs.

On the issue of high global price of polymers and uniform application of environment laws, Goyal assured that the Commerce Department will take it up with the Environment Ministry to allow import of virgin plastics scrap and related issues.

He also asked the export councils to identify and name the exporters whose products fail to meet international standards and are often rejected due to inferior quality.

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

ALSO READ: Seductive crypto ads leave Indian investors in dilemma

ALSO READ: India, Japan See Kenya As Key To Indo-Pacific

Previous Story

Altaf Renews Call For Sindhudesh

Next Story

Rajasthan girl becomes British High Commissioner for a day

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop

Don't Miss

India needs to develop new strategy on China

Any Indian strategy must counter the Chinese philosophy which seeks

Dubai Chamber survey shows rebound in business confidence in Q4 2021

Business confidence in Dubai reached its third highest level in