the Department of Commerce has taken up several issues of exporters with the Ministry of Finance for their early resolution, like RoDTEP, MEIS, Inverted duty structure, etc: Shri Piyush Goyal
Union Commerce and Industry Minister Shri Piyush Goyal, and Senior Officers of the Department of Commerce, and Directorate General of Foreign Trade (DGFT) today held a meeting with the Export Promotion Councils to discuss various issues concerning international trade.
Shri Piyush Goyal complimented the Exporters for their encouraging performance, even during such trying times. He noted that India’s merchandise exports in April 2021 were USD 30.21 billion, an increase of 197.03% over USD 10.17 billion in April 2020 and an increase of 16.03% over USD 26.04 billion in April 2019. He said that the value of Export in the first week of May 2021 is also up by almost 9% over the same period of 2019-20 (6.48 billion USD).
He said that Export excluding POL is even better, and has increased in this period by 15% over the same period of 2019-20. He said that the performance of exports in April’21 and 2020-21 gives hope that an ambitious target of $400 billion merchandise exports can be achieved this year. There is a large potential for enhancing exports in several sectors like Pharma, Engineering, Auto-component, Fisheries, and Agro-products, he added.
Regarding the issues raised by the participants, Shri Goyal said that they should approach the Covid helpdesk of the Department for resolving the problems emanating due to Covid related measures. Shri Piyush Goyal said that the Department of Commerce has taken up several issues of exporters with the Ministry of Finance for their early resolution, like RoDTEP, MEIS, Inverted duty structure, etc. He called upon the exporters to take advantage of the Production-Linked Incentive schemes for various sectors which have been announced.