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Commerce and industry minister Piyush Goyal said he wants both goods and services exports from India to touch $1 trillion each and the government is working on a specific plan of action where it will soon announce a deadline to achieve these targets.

Addressing NRIs and chartered accountants on Sunday, Goyal said last year services export was $194 billion and goods was $290 billion. “We would like both services and goods exports to compete with each other and together reach the $2 trill ..

"This year, the target for textile exports is $44 billion. We have focussed too much on cotton and cotton-based textiles. However, at present around two-thirds of international trade is man-made fibre and technical textile where we have a low share. This was never promoted in India, but now all efforts will be to diversify India's textile portfolio in international trade,” said Goyal.

Goyal has been in Dubai since Friday for the Dubai Expo 2020 in his first overseas trip since the pandemic. During his trip, he met UAE government ministers, officials, top industrialists and CEOs, and the NRI community here.

The minister urged Indian and NRIs to invest in early stage start-ups where currently only foreign investors have shown interest. There is difficulty to get seed capital for early stage start-ups.

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