Piyush Goyal, Minister of Commerce and Industry says, India will achieve the target of $1 trillion exports, each for goods and services, in the next few years. From April-September 21, 2021, India’s export exceeded $185 billion and is expected to reach $400 billion by the end of this fiscal.

The government has decided to extend the existing foreign trade policy for six months till March 31 2022. It had earlier extended the FTP 2015-20 until September 30 this year due to the COVID-19 crisis. The policy provides guidelines for enhancing exports to push economic growth and create jobs. Under FTP, the government provides incentives under different schemes such as Duty Free Import Authorization (DFIA) and Export Promotion Capital Goods (EPCG).

Goyal also launched 'Ease of Logistics’ portal to bring exporters and logistics service providers on a single platform. The portal offers a value proposition to all stakeholders. It enables exporters to post details of container requirements directly to service providers, adds A Sakthivel, President, FIEO.