Union Commerce and Industry Minister Piyush Goyal has said that the nation is working towards making a quantum jump in merchandise exports. 

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 World”.

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 exports. 

"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 Shri Goyal.  

“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.