India aims for 10% share in global exports by 2047

India plans to increase its export share in global trade from 2.1% to 3% by 2027 and 10% by 2047, promoting a hundred Indian brands as global champions. To ease trade, a Customs 'ONE' will be established to give import-export clearance within one hour of arrival at entry points and customs ports.

These are among numerous hundredth-year-of-independence-year goals set by the commerce and industry ministry under the India@2047 banner. As an extension of the Atmanirbhar Bharat programme, it includes establishing economic zones outside India.

The goals for international trade have been set until 2047, and the commerce department will seek to lay a firm basis to fulfil these goals until 2027, according to an official. The goal is for exports to account for 25% of gross domestic product. Pharmaceuticals, gems and jewellery, marine and agribusiness, textiles and leather, engineering goods, electronics and telecom devices, and chemicals are the focus sectors.

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