1. Home
  2. Infrastructure Urban
  3. WAREHOUSING & LOGISTICS
  4. India ahead of its exports goal despite Covid-19: Piyush Goyal
India ahead of its exports goal despite Covid-19: Piyush Goyal
WAREHOUSING & LOGISTICS

India ahead of its exports goal despite Covid-19: Piyush Goyal

25 Sep 2021 2 Min Read CW Team

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal.

They will be at around $190 billion by the end of September 2021.

Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader.

Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support.

Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic.

The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India.

Image Source

Also read: Steel sector ramps up exports as domestic demand slumps

Also read: DGTR recommends anti-dumping duty on aluminium imports

Minister of Commerce and Industry Piyush Goyal, during an interaction with bankers and exporters on export financing issues, said that despite Covid-19 and other problems, India is ahead of its exports goal. They will be at around $190 billion by the end of September 2021. Stating that this is the first time crossing this figure in the first six months of the FY, the minister said that the exports are at the cusp of exponential rise. The government is operating to bring a quantum leap in quality, productivity and effectiveness, to make the export basket better, larger and broader. Goyal also urged the exporters to create small working groups and consider basic structural improvements to get released from clutches of government support. Further continuing his discussions on the role of banks in helping the exporters, Goyal advised banks to be more liberal concerning exchange rates and provide benefits instead of penalising MSMEs. Asking the Indian Bank Association for utilising a more liberal approach, he said that the credit rating, penal interest, and penal insurance charged requires more liberalisation under the challenges encountered due to the Covid-19 pandemic. The event, which was held as a part of 'Vanijya Saptah', was organised together by the Directorate General of Foreign Trade, Department of Commerce, Export-Import Bank of India and Export Credit Guarantee Corporation of India. Image SourceAlso read: Steel sector ramps up exports as domestic demand slumps Also read: DGTR recommends anti-dumping duty on aluminium imports

Next Story
Infrastructure Transport
22 Nov 2024

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister

A new greenfield highway connecting Kharagpur in West Bengal and Visakhapatnam in Andhra Pradesh, passing through Odisha, is set to be constructed soon. This expressway is poised to become a vital logistics corridor, enhancing high-speed transportation in the region. Works Minister Prithviraj Harichandan shared that preliminary preparations for the project have already commenced. He emphasised that the expressway would play a crucial role in the Gati Shakti Framework of the Central government, describing it as a groundbreaking initiative in road construction for Odisha. Greenfield roads typi..

Read More
Next Story
Infrastructure Urban
22 Nov 2024

LTTS wins project to develop smart cities in Colorado USA

Mid-sized Indian IT services company L&T Technology Services (LTTS) announced on Monday a strategic partnership with the Colorado Smart Cities Alliance (CSCA) to develop smart city projects across Colorado by integrating innovation and technology. In a regulatory filing, LTTS stated that the collaboration would utilize its advanced engineering expertise to support CSCA's mission of enhancing urban living and creating sustainable ecosystems through smart city solutions. The partnership aims to develop sustainable, efficient, and technologically advanced communities by pooling resources and exp..

Read More
Next Story
Infrastructure Transport
22 Nov 2024

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility

Bengaluru’s metro network is set for a major expansion, aiming to extend its total length to 175 km by 2026. This ambitious project is part of the Namma Metro initiative, designed to improve connectivity across the city, alleviate traffic congestion, and promote sustainable urban mobility. The expansion involves constructing new metro corridors, such as the Purple Line and the Outer Ring Road-Airport Line, which will link major city hubs, commercial centres, and residential areas. This development is expected to enhance accessibility for commuters throughout Bengaluru. A key highlight of t..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister
ROADS & HIGHWAYS
22 Nov 2024

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister

LTTS wins project to develop smart cities in Colorado USA
SMART CITIES
22 Nov 2024

LTTS wins project to develop smart cities in Colorado USA

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility
RAILWAYS & METRO RAIL
22 Nov 2024

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility

Chennai Metro finishes piling work from Kodambakkam Powerhouse to Porur
RAILWAYS & METRO RAIL
22 Nov 2024

Chennai Metro finishes piling work from Kodambakkam Powerhouse to Porur

Ambuja, ACC stocks plunge after Gautam Adani's US indictments
ECONOMY & POLICY
22 Nov 2024

Ambuja, ACC stocks plunge after Gautam Adani's US indictments

Rajasthan govt and Centre to jointly run extended Jaipur Metro lines
RAILWAYS & METRO RAIL
22 Nov 2024

Rajasthan govt and Centre to jointly run extended Jaipur Metro lines

Hyderabad Civic Body Demolishes Five-Storey Building in Gachibowli
Real Estate
22 Nov 2024

Hyderabad Civic Body Demolishes Five-Storey Building in Gachibowli

Hill highway project to finish by 2026, says PWD minister
ROADS & HIGHWAYS
22 Nov 2024

Hill highway project to finish by 2026, says PWD minister

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000