On Thursday, Piyush Goyal will meet with exporters.
Commerce and Industry Minister Piyush Goyal is scheduled to meet with exporters and industry representatives on Thursday to review India’s export performance and discuss strategies to boost outbound shipments. Key issues expected to be addressed include container shortages, the Red Sea crisis, and export targets, according to officials.
"It is a review meeting on the state of exports and export promotion," stated an official.
In FY24, India’s goods exports totaled $437.1 billion, while imports reached $675.4 billion.
The ministry has been developing standard operating procedures for negotiating free trade agreements with other countries, which may be discussed during the meeting, according to sources familiar with the agenda.
Exporters are likely to raise the issue of extending the Production-Linked Incentive (PLI) scheme to labor-intensive sectors such as leather and footwear. Additionally, they have already approached the finance ministry regarding the high import duty on wet blue leather, which is essential for producing high-end luxury goods.
Separately, gems and jewellery exporters have requested a reduction in the import duty on gold, silver, and platinum bars from the current 10-12.5% to 4% in the forthcoming Budget.
