Government today removed restrictions on the export of paracetamol APIs. The Directorate General of Foreign Trade has issued a notification in this regard.

Export curbs were imposed on paracetamol and formulations made from the compound in March by the government to shore up domestic supplies amid the coronavirus pandemic.In April, the government had removed the curbs on shipments of formulations made from paracetamol. Now, it has removed restrictions on paracetamol APIs also. API is the active ingredient that is present in medicine.

Meanwhile, Commerce and Industry Minister Piyush Goyal has called upon the exporters to be more competitive and provide quality products to the world. Mr Goyal said this while addressing the Digital Summit on Exports organized by the Confederation of Indian Industry (CII)through video- conferencing.

The MInister identified three important ways to increase India’s exports-reviving manufacturing, diversifying the exports basket and finding newer and more accepting markets. Mr Goyal emphasized that the diversification of exports, in addition to consolidating current areas of strength, is necessary for country's economy to grow. He stated that India has a huge opportunity to promote indigenous production in auto component sector, furniture, air conditioners, and others.

He said, in the IT related service, the world recognizes the Indian expertise and prowess, and hence the government has asked the NASSCOM to target for 500 billion dollar export in the sector in next five years.

He said, Atmanirbhar Bharat is not just about greater self-reliance, but also engaging with the world from a position of strength. He said that India should be seen as a dependable partner and reliable friend in the world market, particularly when the global supply chains are undergoing rejig.