Goyal Asks Indian Project Exporters To Explore Markets In Developed World

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal today asked project exporters to diversify and foray into markets of the developed world and urged them to not restrict themselves to Government Line of Credit Projects and projects in the developing world.

He was delivering the Keynote Address at the 'Summit on Enhancing Global Opportunities for Indian Project Exporters' organized by the Exim Bank in New Delhi today.

Developed countries may very well offer advantages of low risk and lower capital requirement with higher credit rating of projects which will enable companies to for higher credit limits, he elaborated.

He complimented India Exim Bank for supporting exporters, for organizing the Summit by including international stakeholders, and for conducting the study on Indian Project Exports.

Outlining the challenges that global economy has been facing since the start of 2022 such as the Omicron wave, global supply chain disruptions, soaring raw material costs, container shortages, global financial market volatility and geopolitical tensions, the Minister observed that it was in this context that the summit is both timely and important.

Observing that several heads of governments and ministers had chosen India as their first destination post Covid, the Minister said that it signalled the tremendous interest that the India story has generated in the world. It is a recognition of efforts put in by each citizen and is indicative of a bright future for the nation, he added.