IGI Logo

Union Minister Piyush Goyal has said that India's goods exports will stand at $290 billion for the financial year ending March (FY21), 7 percent short of the shipments in the previous fiscal. However, he said this was great considering the country has bounced back so quickly in a challenging year. India's goods exports stood at $313 billion in FY20.

The minister stated that it will be a record year in terms of FDI inflows for India, despite the pandemic and the fact that all international statistics suggest that foreign investments across the world are going to significantly fall in the current months. Observing that India was amongst the rare countries which saw FDI growth in 2020, Goyal said he has absolutely no doubt it will be a record FDI.

Goyal also expressed confidence that going forward, India will be able to overtake China in its engagement with Bangladesh. He said India has been working relentlessly to build strong relations with all its neighbouring countries. He also said India's ability to add more value to the products and services has helped it expand trade ties with countries like Bangladesh. However, he added that India does not hold a grudge against any country for its engagement with anybody else and focuses only on what it can do with that country better.