EPCs should aim for $450-$500 bn exports next year: Minister

Union Minister Piyush Goyal on Saturday called upon various Export Promotion Councils (EPCs) to aim for $450-$500 billion exports next year.

Addressing a mid-term review meeting with the heads of various EPCs, Goyal, the Union Minister of Commerce and Industry, pointed out that India’s exports have bounced back, touching $197 billion in the first half of FY2021-22.

Goyal said with 48 per cent targeted volumes achieved, “we are on the right track”.

The minister also said that engineering goods have much more potential, while textile exports should aim for $100 billion.

“You must have seen we are coming out with various schemes,” said Goyal, referring to the several PLI schemes announced by the Centre recently.

Additionally, Goyal pointed out that the Centre is negotiating FTAs with various countries and blocs, including the UK, the UAE, Oman, Australia, Canada, EU, Russia and the Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa and Swaziland.

“Equitable, fair and balanced and to the benefit of the Indian exporters, you will have to raise whatever are your concerns,” Goyal said, adding that mostly the issues are related to market access rather than tariffs.

On the issue of high global price of polymers and uniform application of environment laws, Goyal assured that the Commerce Department will take it up with the Environment Ministry to allow import of virgin plastics scrap and related issues.

He also asked the export councils to identify and name the exporters whose products fail to meet international standards and are often rejected due to inferior quality.

“Quality will define the future of our exports,” he said.