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‘We’re back in business’: Piyush Goyal says India set to hit historic high on exports

Piyush Goyal, the Union minister of commerce and industry, said on Sunday that India is on its way to hitting a historic high on exports of goods and services this year. Assuring that the economy that suffered due to the Covid-19 pandemic will soon be back on track, the minister said India has been witnessing a constant growth in foreign direct investment (FDI) for the past seven years.

“We’re back in business,” said Goyal, who also holds the portfolios for textiles, consumer affairs, and food and public distribution, while speaking at an event in Delhi’s Pragati Maidan.

He was addressing the launch of the 40th India International Trade Fair in the national capital. The event will continue till November 27.

“Collectively, we are on the track for a historical high on exports of goods and services in the current year,” he said, adding, “India has been witnessing constant growth for the last seven years on FDI”.

Elaborating further on the positive outlook for India’s businesses, Goyal said, “Today’s launch of this trade fair reflects the five ‘sutras’ of India – economy, exports, infrastructure, demand, and diversity.”

The Union minister said that with the launch of the 40th India International Trade Fair, one of the finest and largest convention centres made in the country will arrive at the Pragati maidan complex, along with two other exhibition halls. “‘Make in India, make for the world’ isn’t just a slogan,” he added, “It implies assurance, thoughts, and trust in ourselves.”

On Saturday, World Economic Forum president Borge Brende highlighted India’s efforts towards strengthening the fight against Covid-19 and the economic reforms undertaken in the country while speaking to Prime Minister Narendra Modi at an event. Calling India the “fastest-growing among the large economies,” Brende extended his greetings on the country’s 75 years of independence from colonial rule. He said he expected a “two-digit growth” the next year while India prepares for its G20 presidency.

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