Despite no results from export subsidies, India’s exports are on track: Piyush Goyal

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Despite no results from export subsidies, India’s exports are on track: Piyush Goyal
08 Feb 2022
5 min read
TWN In-Focus

News Synopsis

The Union Commerce and Industries Minister on Friday said that the subsidies declared on the goods that exports from the nation have not given desirable results. However, it has not affected the country’s export volume and the country is exporting its desired amount of goods. Piyush Goyal claims that the government’s Remission of Duties and Taxes on Exported Products, RoDTEP scheme is the reason behind the country’s exports and is expected to reach $400 billion by the end of this year. He said this in reply to a question raised in the upper house of the parliament. Piyush Goyal assured that even though the government has slashed the export subsidies they are going to achieve a new record in terms of export this year. The Union Minister stated: "We are already crossed USD 334 billion (one billion is equal to Rs 100 crore) of exports, which is higher than any full year ever in the past, and we are well on track to go to USD 400 billion export in the current year”.

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