According to Union Minister for Commerce and Industry Piyush Goyal, India will complete this year with exports worth well over USD 750 billion.
He stated, "With great responsibility and confidence, I am pleased to share that figures through February 2023 are already higher than what we did in the entirety of last year, and we are expected to close this year with well in excess of USD 750 billion of exports, another all-time historical record.
Inaugurating the ECGC (Export Credit Guarantee Corporation) Bhawan, the Union Minister said that as we are in our 75th year of independence, we aspire for ECGC to become more modern and digital in its operations, leading to greater efficiencies, greater confidence among exporters and better performance.
"We must leave our offspring in an India free from any form of corruption. Anyone who participates in any irregular actions will face severe consequences. The New India must be a partnership between the government, businesses, organizations like the ECGC and EXIM Bank, and other participants if we want to turn India into a superpower.
"ECGC has to be very conscious of tracking what is happening, transparency in our working, ease in operations, being helpful, converting into online operations as much as possible," he said.
"We should have fully digital online interactions with the exporter and transparent business practices unless there is a reason not to trust them. I would advise ECGC to review every one of your procedures. Goyal urged the business community to work with us to improve India's narrative so that it becomes one that the rest of the world will be proud of.