New Delhi: The coming years will be difficult and hard, and exporters should demonstrate their competence in these circumstances to grow exports, according to Commerce and Industry Minister Piyush Goyal.
Speaking at the FIEO's Niryat Shree and Niryat Bandhu Awards ceremony n New Delhi, he said, "India's exports have reached an all-time high of USD 773 billion in 2022-23."
"The times ahead are going to be very, very tough. The situation is only deteriorating from what we saw as happened today in the Ukraine-Russia war, It's going to be very, very challenging in the months and years ahead of us. But tough times is the time when people with mettle show their capabilities," he added.
According to sources, Russia claimed it stopped a drone attack by Ukraine on the Kremlin early on Wednesday, claiming it was an unsuccessful effort to kill President Vladimir Putin. Russia also threatened revenge for what it called a terrorist crime. The Ukrainian president denied it and stated "We didn't attack Putin or Moscow".
According to the minister, despite the uncertainty in the world economy, Indian exporters remained resilient, and their goods and service exports totalled USD 773 billion, ANI reported.
Mr Goyal said, "Let us all work together to ensure that we don't get left behind. Let us all work together to ensure that we will show the pathway to the rest of the world and towards that trading beyond boundaries, trading to newer markets, and trading in newer products produced in India for the world. Serving from India to the world economies, to developed economies, exploring new markets, and new opportunities, diversifying our export basket, encouraging collaborations and investment both into the country and internationally, and becoming globally more competitive. These will be the drivers of our export and future international engagements. We have to ensure that the world recognizes brand India for quality and reliability."
He also expressed certainty that exports would total USD 2 trillion by 2030.
In recognition of outstanding exporters' and service providers' performance and exports' incremental growth, Mr Goyal presented the 17th Set of Niryat Shree and Niryat Bandhu Awards to the deserving recipients.
In his welcome speech, FIEO President Dr A. Sakthivel commended the award recipients for their outstanding achievements throughout the challenging time in world trade.
Through their sheer effort and careful planning, he claimed, they have made the nation proud.
Dr Sakthivel thanked the Minister and noted the impressive growth of the exports sector, which he said increased by over 55% in just two years, bringing total exports to USD 770 billion in 2022–23 and adding US$ 218 billion in the previous two fiscal years, or 17 lahks 44 thousand crores.