Union Minister of Commerce and Industry, Piyush Goyal, stated that India is on track to achieve a landmark export target of USD 800 billion this year in goods and services. Addressing a gathering in Mumbai at an event organised by the Gems and Jewellery Export Promotion Council (GJEPC), he said, “We expect that this year will see positive growth in goods and services exports, our exports will be around USD 800 billion.”
Notably, India's overall exports in goods and services saw 0.04 per cent growth at USD 776.68 billion in FY24. Goyal's declaration reflects the confidence and ambition that the Indian government has in its industrial and export sectors, which are poised for a historic performance despite global economic uncertainties.
"The industries and exporters of India are in good shape and we expect this year to be the year of historic export... The PM always says to us that whatever we will do will be of global standards. He is sensitive towards this sector as he knows that lakhs of youths will get opportunities in it," said Goyal. This target signifies a pivotal moment for India's trade dynamics, reinforcing its status as a key player in the global market. Highlighting the government's vision for quality and excellence, Goyal echoed the sentiments of Prime Minister Narendra Modi.
Goyal said, “The Prime Minister says that whatever India will do now will be at a global standard.” "He (PM) is sensitive towards this sector as he knows that lakhs of youths will get opportunities in it," Goyal added, emphasizing the PM's commitment to maintaining and enhancing the global standards of Indian exports.
Prime Minister Modi's insistence on global standards reflects a broader strategy to ensure that India's economic initiatives are not just competitive but exemplary on the world stage. "The Prime Minister says that whatever India will do now will be at a global standard," Goyal reiterated, underscoring the government's focus on quality and international competitiveness.
Goyal also said that the Gem and Jewellery sector will be a thrust area that will give jobs to lakhs of young boys and girls in the years to come, adding to the economic activity of India. "I think this (Gem and Jewellery sector) is one area which will be a thrust area. It will not only help us grow in terms of our international business, but it will also give jobs to lakhs of young boys and girls in the years to come. It will add to the economic activity of India and give newer opportunities in our journey of Amrit Kaal. As we work towards a Viksit Bharat, a developed nation in 2047, we see tremendous potential for this sector and Mumbai will be at the forefront," said the Union Minister.
In addition to discussing the export targets, Goyal addressed local development initiatives in his constituency, Mumbai North. He highlighted the critical need for advanced healthcare facilities in the area, which has historically lacked modern medical infrastructure.
"Mumbai North constituency is a huge area, no modern healthcare facility was there. When I became the MP, I requested a foundation and soon there will be a hospital of 1000 beds, that will be the biggest private sector hospital in Mumbai. It will be the most modern multi-speciality hospital", Goyal announced. This new healthcare facility is set to be a game-changer for the residents of Mumbai North, offering state-of-the-art medical services and addressing a long-standing gap in healthcare provision.
Goyal also held productive interaction with stakeholders and reviewed the progress of Santacruz Electronics Export Processing Zone (SEEPZ), Export Credit Guarantee Corporation of India (ECGC) & Controller General of Patents, Designs and Trademarks (CGPDTM), at Bharat Ratnam - Mega CFC. He said that with significant infrastructure development, SEEPZ is striving towards boosting India's exports & accelerating employment growth. "ECGC continues to play a pivotal role in supporting exporters, empowering them to bolster India's global export footprint," said Goyal.
The Union Minister further said that CGPDTM is committed to further facilitating the growth of India's growing Intellectual Property ecosystem. (ANI)
