Exporters capable of coming out as winners from global uncertainties: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that exporters will come out as winners from the impact of the current global uncertainties.

He said there are challenges on the global trade front due to the ongoing geo-political situation, concerns on inflation, and slowing growth in key economies.

"We do have challenges but our business people have the ability and agility to come out as winners from this adverse situation," he said here while addressing exporters at an event organised by the Federation of Indian Export Organisations (FIEO).

He also exuded confidence that the country's goods and services exports would reach USD 2 trillion by 2030.

The minister appealed to the industry to focus on quality and innovation with a view to increasing exports.

India's exports contracted by 15.88 per cent in July, for the sixth month in a row, to USD 32.25 billion due to a global slowdown and fall in shipments of key sectors like petroleum, gems and jewellery, according to official data.

Talking about the successful launch of Chandrayaan-3, the minister said this has opened huge opportunities for the private sector in the space sector.

We are working on regulatory simplification for the private sector so that they can participate in the space segment, he added.