To achieve the export target for the current fiscal, the Commerce Ministry has asked export promotion councils (EPCs) to work on the same and chalk out a detailed roadmap to achieve that.
According to exporters, a meeting was chaired by Commerce and Industry, Textiles Minister Piyush Goyal in this regard and issues related to the country’s outbound shipments were also discussed.
It was emphasised that states and Indian missions abroad be involved in achieving the new target. There was also a discussion on organising a major buyer-seller meet to showcase India’s prowess in exports. Latin America and African countries hold a huge potential to boost exports.
A senior official of an EPC, present in the meeting said that the ministry has asked them to work on new exports target for this fiscal and explain ways to achieve them.
Narendra Goenka, Chairman, Apparel Export Promotion Council was present at the meeting and he said that despite the global economic uncertainties, the sector is likely to grow by 5-10 per cent this fiscal.
Free trade agreements with the UAE and Australia would provide a huge platform to boost exports in those markets. There are healthy signs of economic growth in the US.
Sharda Kumar Saraf, Mumbai-based exporter and Chairman of Technocraft Industries too said that this fiscal would be better than last year for India’s exports.
It is worth mentioning here that India’s goods and services exports together touched an all-time high of US $ 770 billion last fiscal year. While merchandise exports touched US $ 447 billion, services exports are estimated at about US $ 322 billion.