India ahead of its exports goal despite Covid-19: Piyush Goyal
WAREHOUSING & LOGISTICS

India ahead of its exports goal despite Covid-19: Piyush Goyal

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal.

They will be at around $190 billion by the end of September 2021.

Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader.

Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support.

Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic.

The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India.

Image Source


Also read: Steel sector ramps up exports as domestic demand slumps

Also read: DGTR recommends anti-dumping duty on aluminium imports

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal. They will be at around $190 billion by the end of September 2021. Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader. Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support. Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic. The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India. Image SourceAlso read: Steel sector ramps up exports as domestic demand slumps Also read: DGTR recommends anti-dumping duty on aluminium imports

Next Story
Infrastructure Urban

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Next Story
Real Estate

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Next Story
Infrastructure Transport

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?