All the key indicators such as jump in exports and high GST collection in April reflect that the country's economy is on the growth path, commerce and industry minister Piyush Goyal said on Thursday.
Project exports refers to setting up of engineering and construction projects overseas. It also includes the export of engineering consultancy
BJP MP from West Bengal Arjun Singh met Union minister of textiles Piyush Goyal here in the national capital to raise his concerns regarding the price capping of raw jute by the Central government.
The Department of Commerce charted out a plan to address these issues and 'for the first time reached out to not just the States but also at the district and village level farmers'
These programmes are planned to be conducted in cities, including Hyderabad, Chennai, Bengaluru, Mumbai, Surat, Ahmedabad, Delhi and Agra
India exported rice to over 150 countries in 2021-22, of which 76 countries were sent non-basmati rice worth more than $1 million in 2021-22
He also said it is important for India to expand exports significantly and encourage investments to increase foreign exchange inflows into the country
Bangladesh's service exports grew faster; Asia's growth averaged 16.9% compared to India's 16.6% growth in service exports
There is a sharp decline in availability of wheat in the global markets due to the ongoing conflict between Russia and Ukraine. Both the nations are major producers and exporters of wheat.
Goyal said that the export community had made India proud with stellar achievements in exports.
India and the EU agreed to resume negotiations for a balanced and comprehensive free trade and investment agreements in May last year
Goyal said that India is now an international aligned economy and the world is our market today, not India
However, this is provisional data and the figure may increase once the final data is released, he added
Goyal said the Indian textile Industry has the potential to achieve $100 billion in exports by 2030
The program is a pan-India initiative involving development of 'plug and play' infrastructure which is aimed at boosting manufacturing ecosystem in the country, Goyal said
The textiles minister also said the exports would get a boost as the sector would get zero duty access in the UAE and Australia.
Goyal noted that India and Australia working closely together in Quad to ensure peace and stability and order in the Indo-pacific region especially geopolitical alignment.
He said Australian firms that would invest in India can own 100 per cent of their companies and keep their technology and trade secrets
Commerce and Industry Minister Piyush Goyal on Thursday said trade pact between India and Australia would help expand the economies of both countries, thus providing huge opportunities for students
Union Commerce Minister further stated that the trade deal with Australia will open new avenues for India