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India to achieve $400 bn merchandise exports target

Aug 26, 2021
India to achieve $400 bn merchandise exports target

According to Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, the interaction with the Industry Associates will create a roadmap to build a robust ecosystem. 

In his interaction, he also appreciated the selfless spirit of the Industry Association during the testing times of Covid-19. He also said that the combined efforts of the associates could turn a “Crisis into an opportunity”. The going up of the merchandise exports by 45% in the first two weeks of August-21 is proof of the same.

He also said that everybody should gear up to achieve the future target which is set at $400 billion merchandise exports in 2021-22. He feels that the economy is on a path of revival and the country has received the highest FDI inflow ever in 2020-21. The country is taking giant leaps in all the sectors including EoDB, exports, start-ups, and services.

The Minister also put across his views about the employment condition in the country. According to him, more than 54,000 start-ups are offering jobs to 5.5 Lakh people and more than 20 lakh jobs will be created by new start-ups in the coming 5 years. He further said that the role of the Industry Associations in developing SAFE (Sustainable, Agile, Futuristic, and Efficient) is crucial in making India a global hub of manufacturing.

Source – IIFL Securities

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