The country's exports are growing at a healthy rate and now exporters can aim for USD 450-500 billion of outbound shipments during the next fiscal year, Commerce and Industry Minister Piyush Goyal said on Saturday. Exports have touched USD 197 billion during April-September this fiscal, he said.

Goyal said with 48 per cent of the targeted volumes have been achieved, exports are on the right track to achieve this year's target of USD 400 billion.

"Our exporters have made all of us Indians proud today...we can aim to scale USD 450-500 billion exports next year," he said while chairing mid-term review of exports with different export promotion councils.

He also said that India is negotiating free trade agreements (FTAs) with various countries and blocs including the UK, the UAE, Oman, Australia, Canada, the EU, Russia and the Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa, and Swaziland.

The minister said engineering goods have much more potential and textile exports should aim for USD 100 billion.