Export target of $400 billion for the current financial year.
Commerce and Industry Minister Piyush Goyal said on Saturday that the country’s exports are growing at a good rate and now exporters can target an export of $ 450-500 billion for the next financial year. He said that in the first half (April-September) of the current financial year, exports have reached $197 billion.
Goyal said 48 per cent of the target has been achieved and exports are on the right track to achieve the target of $400 billion this year. Presiding over a mid-term review of exports with various Export Promotion Councils, he said, “Our exporters have made all of us Indians proud today. We can target exports of $450-500 billion next year.
Negotiations on free trade agreement
He also said that India is a member of various countries including UK, United Arab Emirates, Oman, Australia, Canada, European Union, Russia and associations like Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa and Swaziland. negotiating free trade agreements (FTAs).
Huge potential in the field of engineering
The minister said that there is a lot of potential in engineering goods and the target of export of textiles should be $100 billion. He said that Prime Minister Narendra Modi will unveil the ‘Gati Shakti’ program on October 13. Goyal invited the heads of the council to attend the program through video conferencing.
Announcement of two big schemes
Recently, the government has made two big announcements for the textile industry. Firstly, PLI scheme has been announced for this, for which more than 10 thousand crores funding has been given. Apart from this, recently the MITRA scheme has been approved. Under this, 7 mega textile parks will be set up across the country.
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