India is on track to meet USD 650-bn export target in 2021-22: Piyush Goyal

New Delhi: India is on track to meet its USD650 billion export goal this fiscal year, according to Commerce and Industry Minister Piyush Goyal. Merchandise exports will account for USD400 billion of the USD650 billion total, while services exports will account for USD250 billion.

Goyal said the USD650 billion export target for the current fiscal year is doable while chairing a review meeting of all major Export Promotion Councils (EPCs). In the first nine months of the current fiscal year, merchandise exports surpassed USD300 billion, he said. "Despite the Omicron fear factor, we reached USD37 billion in goods exports in December alone. This month, we have surpassed USD16 billion in 15 days until January 15th "he stated

Goyal informed Export Promotion Councils that his Ministry will do all possible to assist them and resolve their concerns so that they could meet even larger export targets in the coming fiscal year.The minister encouraged EPCs and entrepreneurs to take use of the government's Ease of Doing Business efforts, including as acquiring approvals through the National Single Window System. During the different FTA discussions, he guaranteed the industry leaders that he would pursue their requests.

More than 25,000 compliances have been lowered, according to Goyal, as part of the government's attempts to improve the ease of doing business and the ease of living.

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