Page 42 - The Indian EYE 040122

BUSINESS EYE APRIL 01, 2022 | The Indian Eye 42

How India’s merchandise

export crossed $400-billion mark

amid the pandemic

This new vision is of India’s self-confidence, self-reliance, ancient identity and future uplift.

And in this, the sense of duty is of paramount importance – PM Modi

the $400 billion exports target.
OuR BuREAu
“As we enter into the new finan-
New Delhi cial year in a few days from now, the
engineering goods sector will aim
ndia’s merchandise exports high and achieve the goal despite
crossed the $400 billion mark in
Ithe current financial year, nine several challenges, especially geo-po-
litical tensions arising out of the Rus-
days ahead of the target, Prime Min- sia-Ukraine conflict,” Desai said.
ister Narendra Modi said on Wednes-
day. “India set an ambitious target
of $400 billion of goods exports & ukraIne-russIa
achieves this target for the first time
ever. I congratulate our farmers, ConFLICt may
weavers, MSMEs, manufacturers, aFFeCt trade
exporters for this success,” Modi said
in a tweet. “This is a key milestone he government is in con-
in our Aatmanirbhar Bharat journey. T tinuous dialogue with
#LocalGoesGlobal”,” the prime exporters to address the
minister said. problems and challenges that are
Addressing an event virtual- emerging due to the ongoing Rus-
ly on Shaheed Diwas in Kolkata’s sia-Ukraine war and could lead to
Victoria Memorial, the Prime Min- some kind of disruption in trade,
ister said, “Today, India has set a commerce and industry minister
new record of exporting products Piyush Goyal said on Wednesday.
worth USD 400 billion that is Rs 30 He said that there are chal-
lakh crore. India’s growing exports lenges of commodity prices, infla-
are a symbol of the strength of our tion, disruption in shipping lines,
industry, MSMEs, manufacturing and container shortages. “Those
capacity and agriculture sector.” challenges are there before us and
“We have to march ahead with a new union Minister of Commerce and Industry Piyush Goyal that certainly may lead to some
vision in New India. This new vision kind of disruption because it is
is of India’s self-confidence, self-reli- for scripting history. Extremely get nine days ahead of the intended coming along with Covid, which is
ance, ancient identity and future up- proud that India has achieved its deadline. also rearing its head. But we are
lift. And in this, the sense of duty is of highest ever goods exports target of As per the infographics shared completely on top of these issues
paramount importance,” he added $400 billion. This reflects the boost by the prime minister, on average, and are in continuous dialogue
PM Modi urged the youth of the in the Indian economy post-Covid every hour $46 million worth of and hand holding our exporters
country to never underestimate their due to PM Modi’s resolve of Aat- goods are exported. The average for on a regular basis,” Goyal told re-
power, caliber and dreams. “There is maNirbhar Bharat,” Union Home a day is $1 billion, while the average porters.
no work that the youth of India can- Minister Amit Shah said in a tweet. for a month stands at $33 billion. Bilateral trade between India
not do. There is no goal that the youth Reacting to the achievement “The various measures taken by and Russia stood at $9.4 billion so
of India cannot achieve,” he said. Union Commerce and Industry Min- the government not only ensured far, this fiscal, against $8.1 billion
India’s merchandise exports ister Piyush Goyal said, “We have recovery but also sustained growth in 2020-21. The bilateral trade
stood at USD 298.1 billion in the scaled the $400 billion goods exports month after month. The top prior- with Ukraine stood at $2.3 billion
financial year 2020-21. The govern- mountain. Every hour, day & month ity accorded to the sector by Prime so far this fiscal, as against $2.5
ment has set a target of USD 400 bil- leading to this monumental achieve- Minister made sure that all the stake- billion in the last fiscal.
lion of goods exports for the current ment has been exhilarating.” holders moved in unison for chasing Due to the war, challenges
financial year ending March 31, 2022. In his tweet, the prime minister the $400 billion goods exports target would definitely increase, but “we
“New India under the leadership also posted infographics of India for FY22,” EEPC India Chairman would deal with that”.
of PM @narendramodi Ji is known achieving the highest ever export tar- Mahesh Desai said while reacting on

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