$1tn exports for India becoming $5 tn economy: Minister

New Delhi, July 31 (IANS) Union Minister Piyush Goyal on Wednesday said that India's exports need to contribute at least $1 trillion for the country to achieve the target of a $5 trillion economy.

At an interactive session organised here by the Commerce & Industry Ministry on emerging opportunities to "enlarge India's exports to US and China", the minister urged manufacturers and exporters to come forward with data and details which directly and indirectly add to the cost of the products that are being exported like "cess paid on coal, electricity and royalty paid on mines".

Minister of Railways and Commerce & Industry Minister Goyal said that the ministry is working on making India's export products competitive and simplifying rules and regulations for easy availability of export credit.

He urged the EXIM community to flag issues regarding availability of land, labour, common effluent treatment plants, cluster development and logistics support required in ports, airports and customs to the ministry.

--IANS

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Source : ians

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