Piyush Goyal to Meet Export Councils for Boosting India's Outbound Shipments

Commerce Minister Piyush Goyal will meet various export promotion councils to discuss boosting India's outbound shipments. Key topics include the interest subvention scheme, PLI for the leather and footwear sectors, and customs duty adjustments. India's exports have shown growth despite global uncertainties, with notable increases in engineering and textiles.

Commerce and Industry Minister Piyush Goyal is set to engage with various export promotion councils on Thursday to explore strategies for amplifying the growth rate of the country's outbound shipments, an industry official has revealed.

Representatives from key export bodies, such as the Federation of Indian Export Organisations (FIEO) and the Council for Leather Exports, are slated to participate in the discussions.

Issues on the agenda include the extension of the interest subvention scheme, the Production-Linked Incentive (PLI) scheme for the leather and footwear sectors, and potential adjustments to customs duties in specific sectors.

India's exports have been registering robust growth rates despite prevailing global economic uncertainties. Notably, merchandise exports surged by 9.1% to USD 38.13 billion in May, even as the trade deficit expanded to a seven-month peak of USD 23.78 billion, according to government statistics.

Various sectors such as engineering, electronics, pharmaceuticals, textiles, and plastics contributed significantly to this export growth, showcasing resilience amid global economic challenges.

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