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Generate $450-$500 bn in exports in 2022, Indian minister urges EPCs

11
Oct '21

Pic: Twitter/Piyush Goyal

Indian commerce and industry minister Piyush Goyal recently called on Export Promotion Councils (EPCs) to generate $450-$500 billion in exports next year. Addressing a mid-term virtual review meeting with heads of various EPCs last week, Goyal called for discussions with all stakeholders before the new Foreign Trade Policy is finalised soon.

Expressing satisfaction over India’s exports bouncing back to $197 billion in the first half of fiscal 2021-22, Goyal said that with 48 per cent targeted volumes achieved, the country is on the right track.

The minister, who also holds the portfolios of textiles, consumer affairs, and food & public distribution, said the target for textile exporters should be $100 billion next year.

The government is negotiating free trade agreements (FTAs) with various countries and blocs, including the United Kingdom, the United Arab Emirates, Oman, Australia, Canada, the European Union, Russia and the Southern African Customs Union (SACU), which 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 was quoted as saying in an official release. Issues are mostly related to market access than tariffs.

Prime Minister Narendra Modi will unveil his most ambitions Infrastructure Development vision, ‘Gati Shakti’ programme on October 13, Goyal said, inviting invited the EPC heads to join the event virtually and learn about infrastructure-related issues of export sectors.

He also asked exporters to flag their concerns over the National Logistics Policy unveiled recently.

Fibre2Fashion News Desk (DS)

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