NEW DELHI: India has achieved the export target of more than $419 billion for the financial year ending March 2022 against the target of $400 billion, Commerce Minister Piyush billion said Wednesday. In addition, he said that the actual exports also surpassed the target of $200 billion, as per the provisionals numbers.
“We had set a target of 200 billion dollars for the services sector. Till March 31, we have achieved a target of 240 billion dollars in the services target. It happened when the tourism and aviation sectors were closed. This is a big achievement for India,” Goyal said.
“There are a lot of employment opportunities in the sectors like textile, pharmaceutical industry, gem, and jewelry etc. The trade deal with Australia will help in creating about 10 lakh jobs. Agreements with UAE would also create another 10 lakh jobs,” Goyal added.
Responding to a media query related to the import of sunflower oil amid the Russia-Ukraine crisis, Goyal said the Government is exploring alternate ways to fulfil the country’s needs. He added that India’s export to Russia and Ukraine is insignificant.
According to Goyal, India’s service basket is increasing with time. In the last two years, the services sector is moving up the value chain, he stated. Meanwhile, Goyal also denied the reports of the Rupee-Rouble trade deal. As per the Commerce Ministry official, the Government is only facilitating payment to the exporters who have sold to Russia. They are in talks to facilitate payment for exporters via non-sanctioned banks.