Huge export potential in chemicals, allied sector: Goyal

Huge export potential exists in chemical and allied sector and it should make a combined effort to set higher goals and aspire for extraordinary results, Commerce and Industry Minister Piyush Goyal said on Wednesday.

Addressing members of Chemical and Allied Export Promotion Council of India (CAPEXIL) here, he said, the government has announced several measures including mechanism to provide easy and affordable credit to exporters.

The minister said the industry should raise issue with the ministry if banks decline to provide loans at affordable rates.

"This is a listening government and it acts on the demands of the industry," he said.

The minister asked the industry to explore new markets and push shipments of value added goods as there is a target to take exports to USD 1 trillion in the next five years.

Further Goyal said he would take up industry's suggestion that a company should not be closed unless there is an order from the highest level.

"CAPEXIL sector industries must embrace new technology and explore new markets, make value addition to the products that are being manufactured and not just remain in their comfort zone as manufactures and exporters of raw and basic products," he said.