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Expressing optimism over India’s export growth, Commerce and Industry Minister Piyush Goyal has said that the country is on track to achieve the $650-billion export target set for goods and services in the ongoing fiscal year (FY22). He added that the $400-billion merchandise exports target is within sight and the services sector should also strive towards meeting the $250-billion target.

He highlighted that ‘In December alone, we touched $37-billion goods exports despite the Omicron fear factor weighing high. This month, till January 15, we have reached $16 billion’. India exported merchandise worth over $301 billion in April-December, achieving three-fourth of the annual target. The minister also assured the export promotion councils (EPCs) that the government will handhold them and resolve their issues to achieve even higher export targets in the next fiscal year.

He also assured the industry representatives to pursue their demands during the various Free Trade Agreement (FTA) negotiations. He added ‘the government is willing to listen to new ideas, engage with industry at every level and work as enabler, facilitator and partner’. India's overall exports (merchandise and services) during April-December 2021 are estimated to be $479.07 billion, exhibiting a positive growth of 36.31 per cent over the same period last year.