Aggressive marketing, FTAs to help exports touch $500 bn in FY22

Exporters also suggested exploiting the potential of e-commerce for inclusive exports and increasing its base by bringing new start ups, artisans, weavers in exports.

According to exporters, aggressive product promotion, prompt execution of pending free trade agreements, and inexpensive lending to MSME operators will enable the country’s merchandise exports to reach USD 500 billion in the coming fiscal year.

In a meeting with export promotion councils, Commerce and Industry Minister Piyush Goyal stated that the country’s exports are rising at a healthy clip and that exporters may now aim for USD 450-500 billion in outbound shipments in the coming fiscal year.

Sharad Kumar Saraf, a leading exporter from Mumbai and the founder chairman of Technocraft Industries India, believes that achieving exports of USD 500 billion in 2022-23 is realistic, as shipments are expected to exceed USD 400 billion this fiscal year.

Yogesh Gupta, a seafood exporter and the MD of Mega Moda, also stated that USD 500 billion in exports might be achieved in the coming fiscal year since output would expand greatly and the global economy would improve.