: Commerce Minister Piyush Goyal sets a target of 00 bn exports for EPCs #FinanceIndia #StockMarketNEWS Commerce Minister Piyush Goyal sets a target of 0-0 bn exports for EPCs New Delhi,

@StockMarketNEWS Mon 11 Oct, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Commerce Minister Piyush Goyal sets a target of 00 bn exports for EPCs #FinanceIndia #StockMarketNEWS
Commerce Minister Piyush Goyal sets a target of 0-0 bn exports for EPCs New Delhi, Oct 9 (KNN) Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, Piyush Goyal has called Export Promotion Councils (EPCs) to aim for USD 450-USD 500 billion exports next year.

Addressing a Mid-Term Review Meeting with heads of various EPCs through video conferencing today, Commerce Minister Goyal directed discussions with all stakeholders before the new Foreign Trade Policy is finalized soon.

Expressing satisfaction India’s exports have bounced back touching USD

197 billion in the first half of FY2021-22, the Union Minister said with 48% targeted volumes achieved, we are on the right track.

“Our exporters have made all of us Indians proud today,” said the minister, setting the bar higher “if we can aim to scale USD 450-USD 500 billion exports next year. ”

The Minister said Engineering Goods have much more potential and Textile exports should aim for USD 100 billion. “You must have seen we are coming out with schemes,” said Union Minister Goyal, referring to the various PLI schemes announced by the Government recently.

He said the Government is negotiating FTAs with various countries and blocs including the UK, UAE, Oman, Australia, Canada, EU, Russia and Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa, and Swaziland.

“Equitable, fair and balanced and to the benefit of the Indian exporters, you will have to raise whatever are your concerns,” he said, adding mostly issues are related to market access rather than tariffs.

Stating that the Prime Minister Shri Narendra Modi will unveil his most ambitions Infrastructure Development vision, - ‘Gati Shakti’ programme on Ashtami, the day of Goddess Durga representing Shakti, viz 13th October, Commerce Ministerr Goyal invited the Export Council heads to join the event by VC and participate with infrastructure issues of related export sectors. The National Logistics Policy has also been unveiled recently and exporters should flag their concerns, he added.

On the issue of high global prices of Polymers and uniform application of Environment Laws, the input for the Plastics sector, he assured the Commerce Department will take it up with the Environment Ministry on allow import of virgin plastics scrap and related issues.

Asking Export Councils to identify and name Exporters whose products fail to meet international standards and are often rejected due to inferior quality, the Minister said the EPCs have not identified specific exporters hurting the reputation of ‘Made in India’ products in the world markets despite repeated reminders.