India achieved export target of $418 billion this year: Piyush Goyal

Goyal said the Indian textile Industry has the potential to achieve $100 billion in exports by 2030

India has achieved the export target of USD 418 billion this year and the latest figure of exports is close to USD 419.5 billion, said Union Commerce and Industry Minister Piyush Goyal on Wednesday.

Goyal told a press conference, "You all are aware that we have achieved the export target of USD 418 billion this year. According to the new figures that have just come out, we are close to USD 419.5 billion."

He said that after achieving the 'goods export target' of over USD 400 billion, India has achieved yet another milestone by accomplishing the 'service export target' of USD 250 billion for the financial year 2021-22.

The Union Minister said that new economic cooperation and trade agreements with Australia and UAE would open 10 lakhs job opportunities in sectors such as textiles, pharmaceuticals, leather goods and jewellery.

"Countries across the globe are working in partnership with India. The India-UAE agreement will give a minimum of 10 lakh jobs and India-Australia FTA (Free Trade Agreement) will provide another 10 lakh jobs in textile, pharmaceuticals, leather goods, gems and jewellery sectors," Goyal said.

Yesterday, while delivering the keynote address at the Golden Jubilee Celebrations of the 'Confederation of Indian Textile Industry- Cotton Development and Research Association' (CITI- CDRA) in New Delhi, the Union Minister said that new economic cooperation and trade agreements with Australia and UAE would open infinite opportunities for sectors such as textiles, handloom, footwear.

He said that Indian textile exports to Australia and UAE would now face zero duty and expressed confidence that soon Europe, Canada, the UK and GCC countries would also welcome Indian textile exports at zero duty.

Goyal said the Indian textile Industry has the potential to achieve USD 100 billion dollars in exports by 2030.

He applauded CITI-CDRA for working towards developing a robust cotton ecosystem by directly engaging about 90,000 cotton farmers.

The Minister observed that more than just fibre, cotton has been an integral part of Indian culture, lifestyle and tradition.