Commerce and Industry Minister Piyush Goyal on Friday said India is on track to meet its USD 1 trillion export goals for the year, with about 15 per cent of the yearly exports already recorded in the first quarter.
Speaking at the Board of Trade meeting in New Delhi, Goyal stated that this will require an increase in services exports from about USD 421 billion to approximately USD 470 billion and an increase in goods exports from approximately USD 440 billion dollars to about USD 530 billion
He added that a 15 per cent increase in product exports and a 10-11 per cent rise in services exports are expected in the first quarter.
The Minister added that India’s export strategy is being constructed around a stronger, more inclusive approach in which every state, district, and industry area is recognised as equally significant.
According to him, the government is making efforts to ensure that all industries—micro, small, medium, and large—have an opportunity to benefit from the country’s export drive.
Goyal noted that the central government is planning to extend the export base beyond the conventional hubs by making every district in the country an export centre.
The Minister underlined that in order to help local companies, particularly MSMEs, with export prospects, documentation, and market access; the government will assign qualified nodal officers to districts.
These officers would receive four to six months of training in Delhi, he continued, and they will be fully equipped with data and support tools to assist exporters.
In order to promote the export ecosystem, he also emphasised that the government is streamlining processes, lowering the burden of compliance, and enhancing the ease of doing business.
Goyal urged exporters to fully utilise recently implemented Free Trade Agreements (FTAs), such as those with Oman, Switzerland, the United Arab Emirates, and the United Kingdom. He also highlighted the role of the export promotion mission in assisting businesses with branding overseas, warehouses, and exhibitions abroad.
He went on to say that although India is becoming increasingly viewed as a safe and attractive partner for international trade, reaching the next stage of expansion will need for outreach, scale, quality, and cooperation from both the government and the private sector.
