Expressing confidence that India is on track to achieve its merchandise export target of $400 billion this financial year, a Central government official said the country has already clocked in $164 billion of exports in five months.
“The government has embarked on an ambitious, but achievable target of $400 billion exports of merchandise goods in the current financial year. I am happy to report to you that our industry and exporters have responded wonderfully and we have reached record levels of export of almost $164 billion in the five-month period of April-August,” said Shyamal Misra, joint secretary, Department of Commerce, while speaking at “Vanijiya Utsav”, an event organised by the Directorate General of Foreign Trade (DGFT) at Ahmedabad Management Association.
“The buoyancy in exports and the resilience shown by our major export products and our export markets give us hope that we are on track and will be able to reach the target of $400 billion by the end of this year,” Misra said at the event where Union Minister of State for Railways and Industry, Darshana Jardosh, was also present.
The official noted that 60 per cent of India’s current exports are from engineering goods, gems and jewellery, pharmaceuticals, petroleum and chemicals. “We need to find new products and new destinations for our exports… Our exporters are urged to strengthen their partnership with MSMEs, farmers and fishermen, and promote our start-ups, too,” he added.
