PM Modi calls upon exporters to set long-term export targets


New Delhi, 23 June

Prime Minister Narendra Modi on Thursday appealed to exporters and industry to set long-term export targets for themselves and give suggestions to the government to achieve those goals.

Inaugurating the new Vanijya Bhavan here, he said that exports play an important role in transforming a country from developing to developed status.

During the last financial year, the Prime Minister said, India’s exports (goods and services) stood at a total of USD 670 billion (Rs 50 lakh crore) despite historic global disruptions.

He said India’s merchandise exports crossed USD 418 billion (Rs 31 lakh crore) in 2021-22 as against the target of USD 400 billion (Rs 30 lakh crore).

“Encouraged by this success of the previous years, we have now increased our export targets and doubled our efforts to achieve them. Achieving these new targets requires a collective effort of all… Industry, exporters and export promotion councils are here. I would urge them to set for themselves not only short term but also long term export targets.”

He said that the new building will greatly benefit the people associated with trade, commerce and Micro, Small and Medium Enterprises (MSME) sector.

The Prime Minister also launched the NIRYAT (National Import-Export Record for Annual Analysis of Trade) portal – developed as a one-stop platform for stakeholders to obtain all necessary information related to India’s foreign trade .

Modi said the government is working to promote ease of doing business and boost exports. New domestic products like handlooms are reaching new markets.

Underlining the role of increasing exports in a country’s transition from a developing to a developed country, Modi said that India has been continuously increasing its exports in the last eight years.