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"The exercise to set the target for the next fiscal is on and should be complete in a month," an official told ET. The ministry has started talks with commodity boards, export promotion councils and Indian embassies abroad for next year's export plan.

The commerce and industry ministry has begun drawing up export strategy for the next financial year, which will build on the milestone achievement of over $400 billion export turnover in FY22. The ministry is setting up a dedicated 'trade promotion body' to drive overall promotion strategy, export targets, and execution to achieve $2 trillion in exports by 2027.

"The exercise to set the target for the next fiscal is on and should be complete in a month," an official told ET.

The ministry has started talks with commodity boards, export promotion councils and Indian embassies abroad for next year's export plan.

The government had for the current year roped in overseas missions and the overall export target was also distributed country-wise, covering even the smallest country. As many as 200 country or territory targets were set and export plans were finalised product-wise and state-wise as well. A special attention was also given to exploration of new markets as also to re-establish presence in those where market share had been lost. A similar approach will be followed for FY23 as well.

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