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Piyush Goyal says double digit growth in exports last week shows that country is showing rapid recovery

Minister of Railways and Commerce & industry Piyush Goyal  has called for aiming for the target of $500 billion of service exports.

Addressing the inaugural session of CII’s India-UK Annual Conference virtually 15 Sep 2020 , Minister of Railways and Commerce & industry  Piyush Goyal  said. “We are all confident that under Prime Minister Shri NarendraModi's leadership, India will get back to our 5 trillion economy target, and it is time we leverage on this.”

 The Minister said that in the week from 8th to 14th September, the value of exports is $6.88 billion, up by 10.73% over the same period of the previous year. “This is indicative that India is in a move to get back, our resilience is showing, our confidence is emerging, our can-do spirit is reflected in all these numbers”, he added.

Engagement on FTA is the need of the hour

   He said “We should start an engagement on FTA. It is the need of the hour. We should look at the preferential trade agreement so that we can demonstrate to the whole world sincerity and seriousness of UK-India engagement. In bilateral agreements between 2 nations, we give some and get some. We are able to benefit businesses & create jobs on both sides of the table” He said that we must look at taking it forward expeditiously.

The Minister said that there are many industries which have huge potential to work with businesses in the UK, where the UK is a net importer in a big way. He said “We have had a very good dialogue in terms of considering how we can prepare before January to see if engagement with UK can be taken to the next level.” He said that the UK certainly can benefit significantly from India's healthcare offerings. India offers a huge potential to give quality medical support at affordable prices & at a speed which they will not get in UK, he added.

The trusted partnership India offers to the world

Goyal said that India ensured all its international commitments were met during the pandemic. He said “This is the trusted partnership India offers to the world which has been recognized. All through the pandemic, our services exports were at 90% of last year's level of the corresponding period. This has added to the credibility of India as a trusted partner world over. Under the leadership of Shri  NarendraModi, we have been able to earn the Goodwill,  Friendship, Trust of world leaders & countries”.

Railways freight loading has increased by 4% in August 2020

Expressing happiness over the rapid financial recovery in India, Shri Goyal said that Railways freight loading has increased by 4% in August 2020, as compared to corresponding period last year. In first 13 days of September, Railways has carried 12% more freight compared to same period last year.

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