$400 bn export target ambitious but achievable, needs aggressive marketing: FIEO

The Federation of Indian Exports Organisation on Monday said that the $400 billion export target for FY22 is a ‘little ambitious' but achievable and requires aggressive marketing strategy and venturing into new markets.

“The government aims at the export of $400 billion in the current fiscal. This looks a little ambitious but certainly achievable... Such a target requires an aggressive marketing strategy and venturing into new markets,” FIEO president A Sakthivel said, adding that free trade agreements with the UK, Europe, Australia, and the US would help further push the country's exports.

FIEO president called for a large shipping company in India since the country remits about $65 billion every year as transport charges overseas.


Sakthivel said that the push for marketing may come from these agreements and such pacts will also help in attracting foreign investments particularly those looking at both the Indian markets and exports.

“One of the reasons for the success of Vietnam, in attracting investment and relocating units, is its effective FTAs with the rest of the world. It is extremely encouraging that the government is moving simultaneously with many trade partners in this direction,” he said.

Sakthivel suggested the government to look into enhancing Market Access Initiative funds from the current level of Rs 200 crore and formulation of a scheme for marketing aimed to take exports to $1 trillion in the next five years may be rolled in with a minimum corpus of Rs 1,000 crore annually.