The Union Commerce Ministry is paving the way for India to reach its ambitious target of $1 trillion in merchandise exports by 2030. Anant Swarup, Additional Secretary in the Department of Commerce, revealed that the ministry has kickstarted an initiative to identify crucial infrastructure needs, potential sectors, and clusters to support this goal. The Asian Development Bank (ADB) has been roped in to conduct a comprehensive study to assist in this endeavour.
Swarup emphasised the significance of understanding the sectors and clusters that will drive the $1 trillion in exports, stressing the need to bridge existing gaps in infrastructure capabilities. At a CII conference, officials highlighted the dip in merchandise exports to $437 billion and imports to $677.24 billion, underscoring the urgency to ramp up infrastructure to boost India’s integration into global supply chains.
Santosh Kumar Sarangi, Director General of Foreign Trade, echoed the need for enhanced infrastructure at ports, railways, and airports to facilitate the movement of goods for achieving the monumental $2.5 trillion target. Despite the challenges ahead, officials remain optimistic about surmounting these hurdles to propel India’s export potential to new heights.
