The government has announced an export earnings target of US$ 51 billion projecting a 12.37 per cent year-on-year growth for the fiscal year of 2021-22.
Of the target, US$ 43.50 billion will come from goods shipment and US$7.5 billion from services with a growth of 12.23 per cent and 13.15 per cent respectively.
Commerce Minister Tipu Munshi made the announcement at a virtual press briefing held on Tuesday. Leaders from export-oriented sectors were present during the briefing.
The country fetched a total of US$ 45.39 billion from export earnings -- goods and services -- in the just concluded fiscal year, the minister said.
Out of the total export earnings, about 38.75 billion were earned from goods exports recording a 15.10 per cent growth in FY 2020-21 compared to $33.67 billion in FY 2019-20.
This fiscal's target has been set taking a number of issues into account that include the just concluded fiscal year’s performance, the Covid-19 situation and its impact on global supply chain and the packages announced to overcome the pandemic impact, Mr Munshi said.