New Delhi: India’s Union Minister of Commerce and Industry Piyush Goyal said that the export figure for last year already crossed in February and expressed confidence that merchandise and services exports would touch USD 750 billion this year.
He was addressing the 8th edition of the Raisina Dialogue in New Delhi today. The Union minister said, “India is targeting annual export of a trillion dollars of goods and a trillion dollars of services by 2030.”
Responding to a question on India achieving the highest export figure in the past year, the Minister said that it was the result of a deep-dive analysis and extensive planning where India’s capabilities were thoroughly assessed, new markets were sought out, districts, especially remote ones were empowered to become export hubs and all Indian Missions abroad were effectively leveraged to promote trade, technology, and tourism.
The Minister noted that last year, the merchandise and service trade had crossed USD 650 billion. Goyal said that India would soon touch the mark of being a USD 5 trillion economy and said that it would emerge as the third-largest economy in the world by 2027-28.
By 2047, India will be a developed economy with a USD 32 trillion economy, a prosperous economy where every last citizen would have access to a good quality life, he said and added that if the nation came together as one, India could even dream of building a USD 40 trillion economy by 2047.
Goyal opined that the transformational initiatives undertaken by the government over the last decade, such as the Swachh Bharat Mission, electrification of around 35 million homes in rural India, creation of a robust power grid, housing for all, free healthcare for over 500 million people had held India in good stead to overcome the challenges posed by the pandemic.
He lauded Prime Minister Narendra Modi’s decisive leadership and said that all through the pandemic PM Modi constantly sought ideas not only to overcome the pandemic but to transform the challenges it posed into opportunities.
(with inputs from Agencies)
