Kolkata: India has set a $ 500 billion export target for Fiscal 2022-23, a top government official said on Friday, argues that the Pandemic Covid-19 has taught the country to “Reimagine” trade in the world.
In December 2021, exports reached $ 37.8 billion, the highest for whatever month, said DGFT Amiya Chandra added during the webinar held by the Bengal Chamber of and Industry.
“We are targeting the target to touch $ 400 billion for current fiscal.
So far in the first nine months, the country’s exports reached $ 301.38 billion,” he said.
Chandra said India was targeting exports of $ 1 trillion in 2027.
“Concerns that Covid-19 will lead to a sharp decline in foreign trade turned out to be negative.
However, the pandemic has taught us to rearrange world trade,” he said.
International Trade Fulcrum has shifted from Europe and the United States to Southeast Asia, said the Directorate General of Foreign Officers.
He also said that the world moved from a multilateral trade agreement for bilateral, and India is currently in the process of entering six FTAs.
Chandra said going forward, artificial intelligence and other forms of technology would be important in matters relating to trade.
A separate portal for MSMEs will be launched immediately, he added.