Synopsis
India is on track to surpass $800 billion in exports this year, with a major contribution from the services sector, as stated by Piyush Goyal. The government is dedicated to supporting exporters and enhancing their engagement with global markets.Key Takeaways
- India expected to exceed $800 billion in exports
- Services sector plays a crucial role
- Government actively supports exporters
- Focus on improving engagement with the US
- Negotiations on FTAs are in final stages
New Delhi, March 14 (NationPress) India is set to exceed $800 billion in exports this year, with a substantial portion stemming from Services, as reiterated by Union Minister of Commerce and Industry, Piyush Goyal.
Highlighting the evolving global landscape, the minister has assured that the government is diligently working and will spare no effort to secure a prosperous future for Indian exporters, encompassing both merchandise and services, while safeguarding the nation's interests.
During his remarks to the Export Promotion Councils (EPCs) and industry associations, the minister praised the optimism within the exporter community and their determination to transform the current global crisis into an opportunity.
Addressing industry concerns regarding the United States, the minister urged the EPCs to evaluate their strengths and communicate their needs and interests to the government for enhanced engagement with the US.
Regarding ongoing bilateral agreements, Goyal mentioned that the government is actively pursuing multiple tracks, each aimed at serving the best interests of Indian exporters.
He indicated that the government is in the final stages of negotiating free trade agreements (FTAs) with several nations, expressing confidence that these will create improved opportunities for Indian exporters and attract greater investment.
Goyal expressed optimism that stakeholder consultations and collaborations with EPCs and the industry will yield mutually beneficial outcomes, paving the way for a bright future for Indian exports and expanding India's presence in larger markets.
Reflecting on reciprocal tariffs, he warned the EPCs to move beyond a protectionist mindset and encouraged them to approach global markets with boldness, strength, and self-assurance.
The aim of the Viksit Bharat Mission to transform India into a prosperous nation can only be realized through the collective commitment of the industry, aligning with the aspirations of Indian consumers for access to competitively priced goods and services.
