New Delhi: Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Piyush Goyal has called EPCs for $450-$500 billion exports next year. Addressing a Mid-Term Review Meeting with heads of various Export Promotion Councils (EPCs) through video conferencing, Goyal directed discussions with all stakeholders before the new Foreign Trade Policy is finalized soon.
Expressing satisfaction India’s exports have bounced back touching $197 billion in the first half of FY 2021-22, Goyal said that with 48 per cent targeted volumes achieved, we are on the right track. “Our exporters have made all of us Indians proud today,” said Goyal, setting the bar higher “if we can aim to scale $450-$500 billion exports next year.”
The minister said that engineering goods have much more potential and textile exports should aim for $100 billion. “You must have seen we are coming out with schemes,” said Goyal, referring to the various PLI schemes announced by the government recently.
He said the government is negotiating FTAs with various countries and blocs including the UK, the UAE, Oman, Australia, Canada, EU, Russia and 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 rise whatever are your concerns,” Goyal said. The National Logistics Policy has also been unveiled recently and exporters should flag their concerns, he added.
On the issue of high global prices of polymers and uniform application of environment laws, the input for the plastics sector, Goyal assured the Commerce Department will take it up with the Environment Ministry to allow import of virgin plastics scrap and related issues.
Asking Export Councils to identify and name exporters whose products fail to meet international standards and are often rejected due to inferior quality, the Minister said the EPCs have not identified specific exporters hurting the reputation of ‘Made in India’ products in the world markets despite repeated reminders. “Quality will define the future of our exports,” he quipped. /BI/
