Tap opportunities in post-COVID world to meet $400 billion export target, says PM to heads of Indian missions abroad

New Delhi: Prime Minister Narendra Modi on Friday called upon the industry and exporters to take advantage of opportunities created in the post-Covid scenario, explore new destinations and expand the export basket to achieve the ambitious target of $400 billion of exports. Addressing Indian missions and Export Promotion Councils on the country’s target of $ 400 billion of merchandise exports this year, Modi said that four factors, including multifold increase in manufacturing, reduction in logistics cost, and international market for domestic goods, can help boost the country’s outbound shipments. The prime minister also suggested the Indian missions abroad to look at products in their respective countries that India can export. At present, exports account for 20 percent of India’s GDP and “given the size of our economy, potential, manufacturing and base of services industry, there is a possibility” to increase this share. In the post-COVID world, there is a debate on global supply chain and in that “we should use all our force” to tap new opportunities.