India Targets $2 Trillion in Exports by 2030-31, Says Piyush Goyal
India aims for $2 trillion in total exports by 2030-31: Piyush Goyal
Business Standard
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India aims to achieve total exports of $2 trillion by the fiscal year 2030-31, with equal contributions from merchandise and services. Commerce Minister Piyush Goyal outlined a strategic plan involving sector-specific actions, performance indicators, and an IT-enabled monitoring system to track progress.
- 01India targets $2 trillion in total exports by 2030-31.
- 02The export goal includes $1 trillion each from merchandise and services.
- 03A structured plan with sectoral actions and timelines will guide the initiative.
- 04An IT-enabled platform will monitor progress and facilitate escalations.
- 05Focus on agricultural exports and Micro and Small Enterprises is emphasized.
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India's Commerce and Industry Minister Piyush Goyal announced a strategic goal to reach total exports of $2 trillion by the fiscal year 2030-31, with plans for $1 trillion from both merchandise and services. During a review meeting in New Delhi, Goyal emphasized the importance of a structured approach that includes clearly defined actions with timelines, assigning responsibilities to Nodal Joint Secretaries, and establishing key performance indicators. An IT-enabled monitoring platform will be developed to track progress and facilitate regular reviews at higher administrative levels. The Minister also highlighted the significance of the Export Promotion Mission (EPM), focusing on agricultural exports and the role of Micro and Small Enterprises in achieving these targets. Additionally, he directed that Market Access Support be extended beyond Export Promotion Councils to other organizations involved in promoting exports.
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This ambitious export target could enhance job creation and economic growth, particularly benefiting sectors like agriculture and small enterprises.
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