INDIA LIKELY TO ACHIEVE RECORD $750 BN EXPORTS IN FY23: GOYAL
Despite global headwinds, India’s goods and services exports may touch $750 billion in the year to March 31, surpassing record exports in 2021-22, commerce minister Piyush Goyal said, emphasising the government’s focus on promoting overseas trade through Indian diplomatic missions.
“Last year was, of course, a record. We crossed $650 billion (of exports) in goods and services. This year, we aim for an even bigger record,” he said on Saturday while speaking at the Raisina Dialogue 2023. India’s exports in 2021-22 was $676 billion.
Expressing confidence in India’s robust export performance in 2022-23 despite global headwinds, Goyal said: “First of all, figures available up to 28th of February give me that confidence. We, of course, crossed last year’s figure already… and we are well on track… We will be hopefully crossing $750 billion.”
The target of $750 billion in exports was possible with proper planning, the trade minister said. “It was an effort to a plan. It was not that it happened on its own. Again, very deep dive analysis was done on our strength areas -the markets where we could look at for expanding our exports, the products. Huge efforts to involve states and people and businesses at the district level,” he said.
“This whole exercise started under Prime Minister’s guidance about three years ago and a lot of painstaking work went behind setting targets, getting all our 180odd missions on board,” he said. “So, today our missions, finally, after years and years of demand by Indian industry, our missions abroad are engaged with trade, with technology and tourism.”
“When I was in the private sector, we used to be so jealous of the other foreign businesspersons, whose ambassadors and missions were merrily and happily supporting their industry through their trials and tribulations of problems, whereas Indian missions thought that it was not their job... We changed that... And I must compliment Prime Minister for his vision in this respect,” he said, also lauding foreign minister S Jaishankar’s leadership.