'India’s exports will have to contribute $ 1 tn to be a $ 5 tn economy', Goyal advances to enlarge exports to US and China

New Delhi, August 01: “In order to achieve the target of 5 trillion dollar economy, India’s exports will have to contribute at least 1 trillion dollar”, opined Commerce Minister Piyush Goyal while engaging in an active discussion in the national capital on emerging opportunities to enlarge India’s exports to US and China.

 

 

Urging the manufacturers and exporters to come forward with data and details which directly and indirectly added to the cost of the products, Goyal further said that manufacturers must build capacity and make the most of the opportunity that is now available to the country to enlarge its exports to both the US and China.

The Centre also took the initiative to identify and share with Indian exporters and other stakeholders, specific lines where the US would lose competitiveness in China. “India has an export potential and the industries must seize this opportunity”, he said.

 

Meanwhile, several B2B meetings with Chinese buyers were facilitated through the Indian Embassy in Beijing in addition to inviting Chinese grape buyers to visit Indian grape farms and related units, under the aegis of APEDA.

 

India and China in the last month had agreed to increase bilateral trade in a more balanced and sustainable manner, conducting various meetings at the official level. Various protocols had been signed to facilitate export of Indian rice, rapeseed meal, tobacco and fish oil, chilli meal, from India to China.