Indian exports are on fast recovery after COVID-19 led downturn: Goyal
Jun 22, 2020
New Delhi [India], June 22 : Union Minister of Commerce and Industry Piyush Goyal said on Monday that exports from India are on fast recovery after witnessing a sharp downturn due to the COVID-19 crisis.
Indian exports fell by 60 per cent in April and by 35 per cent in May. "As of now in June, our exports are down by only 10 to 12 per cent. So our exports are recovering very fast," said Goyal while speaking at the CII's 12th Horasis India Meeting via video conferencing.
He said the railway freight movement will recover fully by July. "From August and September, we will start to see growth in freight movement. The Railways is also trying to double the average speed of freight trains," he said.
Goyal, who also holds the Railways portfolio, said 7.5 million migrants moved on trains to their homes during the lockdown period. Now 4,553 trains are running to move them back to cities. "We have also started 230 regular trains for the movement of passengers," he said.
The Minister urged the private sector to come forward as the government is ready to allocate new routes. Goyal also clarified to the world leaders that the government's Aatma Nirbhar Bharat initiative does not mean shutting the door on foreign investments.
The Horasis India Meeting is held annually to connect Indian business leaders and their global counterparts to discuss a wide range of issues related to the Indian economy.
