India Should Capture Share In World Trade In Post-COVID Era: Piyush Goyal

Union Minister Piyush Goyal on Wednesday said in the post-COVID era, there is going to be a perceptible change in the global supply-chains, and Indian industrialists and exporters should capture a significant share in the world trade.

Mr Goyal said this during the discussions held with the Export Promotion Councils (EPCs) of the country through the video conference. Mr Goyal chaired the conference.

"He called upon the exporters to identify their strengths, potentials and competitive advantages in specific sectors, and focus on harnessing them in the world markets," said an official statement of the Ministry of Commerce and Industry.

He assured them that the government would be a pro-active supporter and facilitator in their efforts, and the Indian Missions abroad can play an important role in that.

Mr Goyal said that incentives can be given, but these have to be justified, reasonable, and WTO-compliant.

"The Ministry is working on identifying the specific sectors, which can be taken forward in the immediate future for the purpose of the export," he said, according to the statement.

He also said that India is going to have a bumper Rabi harvest this season, and "our storage facilities are overflowing."

"At the same time, there are news stories that there is a shortage of food items in several countries. Many places are not having food of appropriate quality, taste and quantity, due to disruptions in the supply chains because of COVID-19 crisis," Mr Goyal said.

He said that this seems to be a good opportunity for the export of agriculture and processed food items.

The minister exhorted the EPCs to undertake brainstorming sessions with its members, and come up with similar actionable, and big-ticket ideas.