Narendra Modi yesterday asked exporters and the business community to set long-term export goals and suggest ways the government can achieve them.
Modi spoke at the opening of Vanijya Bhawan, which will house the Ministry of Commerce and Industry. He highlighted the importance of exports in ensuring a country’s transition from a developing to developed status. For fiscal 2022, India’s merchandise exports reached an all-time high of $418 billion. Having gained a lot of success over the past few years, we have now increased our export targets and are doubling our efforts to reach them,” Modi said.
In order to achieve these new Long-Term Export Goals, he emphasized the importance of all stakeholders’ combined efforts. “I will urge them to set not only short-term but also long-term export targets,” he said.
Indian exports of goods and services totaled $670 billion (Rs. 50 lakh crores) last fiscal, and merchandise exports surpassed $418 billion (Rs. 31 lakh crores), as against a target of $400 billion (Rs. 30 lakh crores).
Vanijya Bhawan, under the Prime Minister, may greatly beneficial for people involved in some categories. Like, commerce, trade, and micro, small and medium enterprises.
A one-stop platform for stakeholders looking for information related to India’s foreign trade was also launched by the Prime Minister, NIRYAT (National Import-Export Record for Yearly Analysis of Trade). On this portal, you will find information pertinent to the export of over 30 commodity groups to over 200 countries. In the coming months, district-specific information will be available as well in order to further strengthen the efforts to develop the districts as viable export centers.”