Union Minister Piyush Goyal Announces India’s $800 Billion Export Target and New Hospital in Mumbai

Union Minister of Commerce and Industry, Piyush Goyal, announced that India is on track to achieve an export target of USD 800 billion this year in goods and services. Speaking at an event organized by the Gems and Jewellery Export Promotion Council (GJEPC) in Mumbai, Goyal expressed confidence in India’s industrial and export sectors.

Goyal highlighted that India’s overall exports in goods and services saw a slight growth of 0.04 per cent, reaching USD 776.68 billion in FY24. He emphasized the government’s commitment to global standards and the potential for job creation in the export sector, particularly in the Gem and Jewellery industry.

Prime Minister Narendra Modi’s vision for quality and excellence was echoed by Goyal, who stated, “The Prime Minister says that whatever India will do now will be at a global standard.” Goyal also mentioned that the Gem and Jewellery sector would provide jobs to many young people and contribute to India’s economic activity.

In addition to export targets, Goyal addressed local development initiatives in his constituency, Mumbai North. He announced the establishment of a 1000-bed modern multi-speciality hospital, which will be the largest private sector hospital in Mumbai, addressing the area’s lack of advanced healthcare facilities.

Goyal also reviewed the progress of the Santacruz Electronics Export Processing Zone (SEEPZ), Export Credit Guarantee Corporation of India (ECGC), and Controller General of Patents, Designs and Trademarks (CGPDTM). He noted that SEEPZ is working towards boosting India’s exports and employment growth, while ECGC supports exporters in enhancing India’s global export footprint. CGPDTM is committed to facilitating the growth of India’s Intellectual Property ecosystem.