SME Times News Bureau | 19 Aug, 2021
Union Commerce and Industry Minister Piyush Goyal
has said that the nation is working towards making a quantum jump in
He said this has been made possible, thanks to
the structural changes initiated by the government under the leadership of
Prime Minister Narendra Modi.
The Minister said that the merchandise export
target of $400 billion for the year 2021-22 has been set, in line with the
Prime Minister’s clarion call, “Local goes Global: Make in India for the
The Minister said this during a meeting with
Export Promotion Councils (EPCs), Commodity Boards and Authorities and other
stakeholders in Mumbai today, to discuss measures to enhance and increase
"The target has been generated through a
bottom-up and consultative approach, wherein specific targets for each country,
product, Export Promotion Council and foreign mission has been set", said
“Act immediately to rise to the ambitious
challenge of $400 billion export target”
The Minister exhorted all Export Promotion
Councils to take immediate and effective steps to rise to the challenge of
achieving the merchandise export target of $400 billion for 2021-22.
"We need to maintain the export momentum for
the next 8 months, with $34 billion exports per month to achieve this target,
he informed. The goal is ambitious, but possible if all including EPCs and
their members work together", added Goyal.
The Minister asked the export community to also
target $2 trillion exports by the year 2030, comprising $1 trillion merchandise
exports and $1 trillion services exports.
The Minister announced that two separate
divisions are being set up in the Commerce Ministry focused on the services
sector, in order to attain the $1 trillion services exports target.