India / PM shares 4-point strategy to achieve India's target of $400 bn exports in FY22

New Delhi: Referring to Prime Minister Narendra Modi's target of USD 400 billion in exports this year, the Confederation of Indian Industry (CII) called it 'attainable', given the current global situation of post-pandemic economic recovery and rising competitiveness of Indian goods.

"The strategy for exports along with taking all players on board would yield notable outcomes with the comprehensive policy announcements and will help India take a winning leap forward as a $5 trillion economy in the near future," CII said in a statement.

Chandrajit Banerjee, the Director-General of CII said, "The PM has set an aspirational, but very much attainable target of USD 400 billion in exports for the year. At the current juncture when global value chains are in flux, the multifold strategies to promote exports coupled with a whole-of-government approach make this a moment for India to seize. The draft National Logistic Policy, boost for project exports and enhancing export insurance cover offer significant encouragement to catalyse exports to new peaks."

"PM's address today speaks volumes of the Government's commitment towards Atmanirbhar Bharat mission for economic growth, a vision based on net exports and making India competitive. The Government's focus on new and existing markets and products and simplification of procedures will greatly enhance the competitiveness of Indian exports. The industry would work with the Government on the Districts as Export Hubs initiative and level with the state and district authorities for capacity building of potential exporters," Banerjee added.

Lauding the Central government for its efforts to foster globally competitive firms, the Director-General said, "Over the recent few years, the Government of India has been at the forefront in creating a conducive regulatory environment that fosters globally competitive firms. Several reform initiatives have been introduced in the domain of trade and investment which have been the key to enhance the export potential of the Indian economy. The Government has been very proactive during the lockdown period and has extended all possible help and support to the industry as a whole and exporters in particular. Industry concerns were resolved on an almost real-time basis."

He also affirmed CII's initiatives to promote Green and Responsible Exports through its Green Product (GreenPro) Certification and Responsible Export Organisation Certification Schemes, which are in sync with the Central government's strategy.