New Delhi: Prime Minister Narendra Modi on Thursday appealed to exporters and the industry to fix long-term export targets for themselves and suggest ways to the government to achieve those goals.
Inaugurating the new Vanijya Bhawan here, he said that the exports play a critical role in the transition of a country from developing to developed status.
During the last fiscal year, the Prime Minister said despite the historic global disruptions, India’s exports stood at a total (goods and services) of USD 670 billion (Rs 50 lakh crore).
He added that India’s merchandise exports in 2021-22 crossed USD 418 billion (Rs 31 lakh crore), as against the target of USD 400 billion (Rs 30 lakh crore).
“Encouraged by this success of the past years, we have now increased our export targets and have doubled our efforts to achieve them. Collective effort of everyone is very necessary to achieve these new goals Industry, exporters and export promotion councils are here. I will urge them to set not only short-term but also long-term export targets for themselves,” he said.
He said that the new Bhawan will significantly benefit people associated with trade, commerce and the Micro, Small and Medium Enterprises (MSME) sector.
The Prime Minister also launched the NIRYAT (National Import-Export Record for Yearly Analysis of Trade) portal - which is developed as a one-stop platform for stakeholders to get all necessary information related to India’s foreign trade.
The government is working to promote ease of doing business and boost exports, Modi said adding new domestic products like handlooms are reaching new markets.
Underlining the role of increasing exports in the transition of a country from developing to developed country, Modi said that in the last eight years, India has been continuously increasing its exports.
Better policies to increase exports, easing of the process, and taking products to new markets, have helped a lot in this direction, he said adding today, every department of the government is giving priority to increasing exports with a ‘whole of government’ approach.