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India aims for $1-trn goods export by 2030
New Delhi: The Union Commerce Ministry has initiated an exercise to identify required infrastructure needs, potential sectors, and clusters, which...
New Delhi: The Union Commerce Ministry has initiated an exercise to identify required infrastructure needs, potential sectors, and clusters, which would help the country achieve the $1 trillion merchandise exports target by 2030, a senior government official said on Thursday.
Additional Secretary in the Department of Commerce Anant Swarup said that the Asian Development Bank (ADB) has been requested to conduct a study in this regard. If the country is targeting $1 trillion of exports by 2030, there is a likelihood of about $1.5 trillion of imports, so “do we have enough capacity” to cater to $2.5 trillion of EXIM (export and import) trade. So that is the target on which the department is working,” he said.
“The ADB is doing a study for us because what is more important is from where the $1 trillion of exports is going to come from; which are those sectors and clusters from where this $1 trillion of exports is going to come from. That is very critical for us. Because unless we know about the clusters, and ports or airports from where this $1 trillion of exports and $1.5 trillion of imports is going to happen, we would not be able to do a baseline study to identify the gaps which exist and then enhance our infrastructure capabilities,” Swarup said.
