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Union Minister for State for Commerce and Industry Som Prakash on Tuesday said despite the global slowdown on account of Covid, the country's merchandise exports are showing an increasing trend.

"The Ministry of Commerce has been taking various steps to facilitate agricultural exports, and initiatives have been taken to achieve merchandise exports worth $400 billion in financial year 2021-22," he said, while inaugurating the Vanijya Utsav in Kochi virtually.

Vanijya Utsav is being organised in hybrid mode here as part of the Vanijya Saptah programme of the Ministry to commemorate Azadi Ka Amrut Mahotsav - the celebration of 75 years of India's independence.

The Union Government is celebrating 'Vanijya Saptah' from September 20-26 in every state and Union Territory to highlight India's potential for trade and exports.

Prakash said that Kerala holds immense potential for further growth in the commerce and industrial sector due to good connectivity and communication network, availability of skilled and well-educated human resource in addition to the availability of spices.

Besides, it has well-developed tourism and hospitality, and health care sectors which are a model for the rest of the country.

Minister of State for External Affairs V. Muraleedharan said the synergy between commerce and external affairs verticals of India as well as line departments of state governments are significant aspects for enhancing India's export prospects, in line with the vision of Prime Minister Narendra Modi to achieve an export target of $400 bn merchandise exports.