The central government is committed to achieving the USD 2 trillion export target by 2030 and the right building blocks are in place, said Union Commerce Minister Piyush Goyal while addressing the FICCI national executive committee meeting.
He said, “With the rapidly growing startup India initiative, growing infrastructure investments, investments in manufacturing which are creating a lot of opportunities for trade, business, jobs and exports. We will be the 3rd largest economy in the next three to four years."
Minister Goyal further stated that the direction in which India is moving forward deeply resonates with what the industry wanted. India has a lot of untapped potential as we make India a global manufacturing hub, getting India into global value chains, and creating more and more global capacity centres working out of India so that we can increase services exports.
“The government along with industry remains deeply committed to achieving the 2 trillion USD export target by 2030. It is doable, achievable, with the right building blocks in place along with a strong macro economy to support it,” added Goyal.
According to Ministry of Commerce and Industry data, India’s overall exports reached USD 778.2 billion in 2023-24 as compared to USD 776.4 billion in 2022-23, showing a marginal growth of 0.23 per cent. Despite slow export growth, the government has high hopes to achieve a USD 2 trillion export target.
Anish Shah, President, FICCI and Group Chief Executive Officer (CEO) and Managing Director, Mahindra and Mahindra responded to Goyal's statement highlighting the efforts undertaken by the government to make India a manufacturing hub. He also stated that substantial steps have been taken to lower the cost of doing business and improve the ease of doing business.
Goyal urged the industry to achieve the ‘Viksit Bharat’ vision, the industry has to come forward to collaborate and invest more in research and development (R&D), innovation and sustainability. He also urged the industry to be more demanding and proactive in providing suggestions to the government. The government, he added, is in the process of finalising the ‘Jan Vishwas 2.0’.
