Commerce Minister Tipu Munshi has said the export target has been set at USD 48 billion for the fiscal year 2020-21. Of this, $41 billion has been set for goods and $7 billion has been set for services sector. The commerce minister made the disclosure at a virtual press conference on Thursday (July 16).
Export target for the 2019-20 fiscal year was 54 billion US dollars. As such, the export target has been reduced by 6 billion US dollars this year.
At the press conference, the Commerce Minister said that due to the coronavirus situation export income has decreased by 25.28 percent in the 2019-20 fiscal year. Growth has decreased to 14.80 percent at the same time. Taking all this into consideration, a total export target of US 48 billion has been set for the fiscal year 2020-21, including the services and goods sectors. Growth rate has been estimated at 19.79 percent. Of this, 41 billion was in the goods sector and 7 billion in the services sector.
In the last financial year (2019-20), the export target was set at 54 billion US dollars.
