India Eyes $825 Billion in Exports Amid Global Challenges

Commerce and Industry Minister Piyush Goyal is optimistic about India's merchandise and services exports surpassing USD 825 billion despite global economic uncertainties. The government plans to open international offices to facilitate foreign investments and streamline trade processes. Efforts also include addressing shipping industry challenges and setting up industrial townships to attract global investors.

Commerce and Industry Minister Piyush Goyal on Wednesday expressed optimism that India's merchandise and services exports will surpass USD 825 billion despite facing global economic challenges.

To facilitate foreign investments, the government plans to open offices in key international cities, including Singapore, Dubai, Saudi Arabia, New York, Silicon Valley, and Zurich. These offices will provide a streamlined, single-window platform for investors to buy land in India, secure approvals, and resolve issues via video conferencing.

Goyal also highlighted the upcoming deployment of teams to man offices of Invest India and other agencies, with the intent to further support foreign and domestic investors. The initiative aims to promote trade, technology, investment, and tourism. Additionally, Goyal mentioned that the ministry is addressing issues like container shortages and high freight rates to mitigate impacts on Indian exporters and importers.

(With inputs from agencies.)