Commerce Ministry working on infrastructure to achieve US$ 1 trillion exports by 2030: Official

The Department of Commerce, led by Additional Secretary Mr. Anant Swarup, spearheads efforts to identify critical infrastructure needs and strategic sectors to realize India's US$ 1 trillion merchandise exports target by 2030. Collaborating with the Asian Development Bank for a comprehensive study, he emphasizes the importance of assessing the nation's capacity to accommodate an estimated US$ 2.5 trillion in export-import (EXIM) trade, with US$ 1.5 trillion in imports.

At a CII conference on resilient export logistics, he underscores India's aim to enhance integration into global supply chains (GVCs), highlighting the need to strengthen manufacturing capabilities. He emphasizes pinpointing key export hubs and logistics nodes to assess thoroughly and bridge infrastructure gaps. He also draws attention to the correlation between exports and imports, citing China's trade dynamics as a benchmark, where exports totalled approximately US$ 3.5 trillion, closely matched by imports at US$ 3.2 trillion.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.