Collective effort required to achieve US$ 2 trillion exports target by 2030: Union Minister of Commerce and Industry, Mr. Piyush Goyal

On Monday, Union Minister of Commerce and Industry, Mr. Piyush Goyal, emphasised the need for a collective effort to achieve India’s ambitious export target of US$ 2 trillion by 2030. Speaking at the annual convocation of the Indian Institute of Foreign Trade (IIFT) via video conference, he expressed confidence in meeting the target, noting that India is set to surpass US$ 800 billion in exports this fiscal year. He urged collaboration and highlighted that achieving this goal will require significant effort, stating, “It will not happen by chance; it will happen by choice, and I am confident we can achieve this big target.”

In FY23, India’s exports of goods and services amounted to US$ 778 billion. He further called on students and faculty to study non-tariff barriers faced by Indian products in international markets, enabling the identification of issues for government attention. Additionally, the ministry announced that IIFT will soon open a new campus in Dubai. Department of Commerce Secretary Mr. Sunil Barthwal shared that the institute will also establish a centre for negotiations, focusing on the expertise needed for Free Trade Agreement (FTA) discussions. IIFT Vice Chancellor, Mr. Rakesh Mohan Joshi, noted that the institute's ranking had improved by 12th places to 15th in the management category in the National Institutional Ranking Framework (NIRF) 2024, with several major firms visiting the campus for recruitment.

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