Collective Effort Needed to Meet USD 2 Trillion Export Target by 2030: Piyush Goyal
In a call for concerted action, Union Minister of Commerce and Industry, Piyush Goyal, emphasized the importance of collective efforts from all stakeholders to achieve a USD 2 trillion export target by the year 2030. Addressing the 57th Convocation Ceremony of the Indian Institute of Foreign Trade (IIFT), Goyal highlighted the necessity of strategic and collaborative initiatives, building upon the momentum of India’s anticipated USD 800 billion in exports this year.
Minister Goyal asserted, “Let us partner to achieve the export target of USD 2 trillion by 2030. Given that we will cross USD 800 billion this year, we will need to really put in a lot of effort collectively to achieve USD 2 trillion. It will not happen by chance. It will happen by choice.” His statement underscores the imperative of deliberate planning and commitment across various sectors to meet this ambitious goal.
He elaborated on the need to identify specific areas where stakeholders can contribute more significantly, thus playing a larger role in the global economy. The Minister highlighted the potential of India’s free trade agreements (FTAs) to pave the way for new markets and business opportunities of all sizes. By leveraging these agreements effectively, Indian enterprises can not only expand into international markets but also create significant domestic employment opportunities, thus fueling India’s broader economic growth.
Expressing confidence in the collaborative power of these agreements, he noted, “Together, I am confident we can achieve this big target. Let us all work to take the free trade agreements that we have entered into, some that we will enter into in the next few years, to all our MSMEs, to all the small traders, to all our businesses. This information about new opportunities, new markets, and new products, where we have access in our friendly countries, can help us grow business with these countries and help provide jobs to each and every one of our brothers and sisters.”
Minister Goyal also pointed out the necessity to address non-tariff barriers, urging for practical suggestions that could bolster India’s stance in future trade negotiations. “We should also study the non-tariff barriers and give concrete suggestions which will help us in our free trade negotiation,” he recommended.
He envisioned IIFT evolving into a key think tank and research organization, assisting the Government of India, the Department of Commerce, and the Department of Industry in enhancing trade and industrial strategies. Such initiatives are intended to ensure that no industry sector or individual is left behind, and that every sector thrives to meet the needs of a burgeoning population—while also increasing India’s share of global trade.
In concluding his remarks, Goyal spoke of the potential leadership role awaiting Indian businesses on the global stage. “Friends, the global stage awaits your leadership,” he stated, encapsulating his vision for India’s proactive and influential participation in the world economy.
