Piyush Goyal calls EPCs to aim for USD 450-500 billion exports next year

New Delhi [India], October 9 : Union Minister of Commerce and Industry Piyush Goyal on Friday called Export promotional Councils (EPCs) for USD 450-500 billion exports next year.
Addressing a mid-term review meeting with heads of various EPCs through video conferencing, Goyal directed discussions with all stakeholders before the new Foreign Trade Policy gets finalized.
Expressing satisfaction that India's exports have bounced back touching USD 197 billion in the first half of the fiscal year 2021-22, Goyal said, "with 48 per cent targeted volumes achieved, we are on the right track."
"Our exporters have made all of us Indians proud today," said the Minister called for setting the bar higher "if we can aim to scale USD 450-500 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 Goyal, referring to the various production-linked incentive (PLI) schemes announced by the Government recently.
The Union Minister said the government is negotiating Free Trade Agreements (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, read an official release by the Ministry of Commerce and Industry.
"Equitable, fair and balanced and to the benefit of the Indian exporters, you will have to raise whatever are your concerns," Goyal said, adding that mostly issues are related to market access rather than tariffs.
Stating that Prime Minister Narendra Modi will unveil his "most ambitious Infrastructure Development vision, - 'Gati Shakti' programme on Ashtami", the day of Goddess Durga representing Shakti-- October 13, Goyal invited the Export Council heads to join the event virtually 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 environmental laws, the input for the plastics sector, Goyal assured the Commerce Department will take it up with the Environment Ministry on allowing the 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.
"Quality will define the future of our exports," he said.
Speaking on the occasion, MoS (Commerce and Industry), Anupriya Patel assured exporters of speedy redressal of their concerns with various other Ministries that were hampering exports growth.