Govt sets ambitious target of $400 billion exports for FY22: Foreign Secretary

Underlining goals of promoting the three Ts - Trade, Tourism and Technology, Foreign Secretary Harsh Vardhan Shringla has said that the government has set an ambitious target of $400 billion exports for financial year 2021-22.

Shringla also highlighted that the Indian economy has returned to the high growth path and the country’s economy grew at a record 20.1 percent year-on-year in April-June quarter (Q1FY22), helped by a low base of the year-ago period coupled with improved manufacturing in spite of a devastating second wave of Covid-19 cases.

Emphasising the recovering of India's economic growth trajectory despite challenging times, the foreign secretary said, ‘That India would have a role in world affairs little more than an aspiration at the time this Chamber was founded. India was still a subject nation and independence, a distant dream. Independence, the trauma of Partition, and the struggles of emerging nationhood were in the future.’ Noting India's key role in world affairs, he said that the post- Coronavirus pandemic economy will differ significantly from the present one.