Piyush Goyal assures full support to IT firms in pushing growth, exports to $1 tn

Piyush Goyal said India was on track to achieve its merchandise exports target of $400 billion this year, while Services exports were likely to be about $240 billion to $250 billion, which is much lower.

AgenciesUpdated: Sunday, January 16, 2022, 10:01 PM IST
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Piyush Goyal welcomed the IT industry’s proposal to start IT hubs in Tier-2 and Tier-3 towns, which would create numerous jobs and help develop the regions. |

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has assured leaders of India’s top IT companies that the Central government will give full support to the sector to accelerate growth and help India’s Services exports soar to $1 trillion in a decade.

Goyal said India was on track to achieve its merchandise exports target of $400 billion this year, while Services exports were likely to be about $240 billion to $250 billion, which is much lower.

Piyush Goyal welcomed the IT industry’s proposal to start IT hubs in Tier-2 and Tier-3 towns, which would create numerous jobs and help develop the regions. He said the IT industry should identify the towns, and the Centre would assist them in providing all the necessary infrastructure and facilities.

He said the IT industry can make a big contribution to Services exports by focusing on new technology and products that can make India a bigger global player in the sector.

The minister told leaders of the IT industry that they should focus on high-tech products.

Goyal said the IT industry had grown spectacularly on its own and many of the top companies grew at a time when India did not focus on creating a favourable ecosystem for Startups. Shri Goyal said the Department for Promotion of Industry and Internal Trade (DPIIT) will provide any assistance needed by the IT industry to help it grow rapidly and contribute to India’s export of Services.

The virtual meeting was attended by Nasscom President Debjani Ghosh, Infosys CEO Salil Parekh, Tech Mahindra CEO & MD Shri C.P. Gurnani; Srikanth Velamakanni, co-founder and CEO of artificial intelligence technology startup Fractal Analytics; Mphasis CEO Shri Nitin Rakesh; Wipro Chairman Rishad Premji; Genpact CEO N.V. Tyagrajan; WNS Global Services Group CEO Shri Keshav R Murugesh; Mastek CEO Hiral Chandrana and Krishnan Ramanujam, President and Head of Business & Technology Services at Tata Consultancy Services (TCS).

(With inputs from PTI)

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