Goods and services exports may reach $1 trillion each by 2030: Piyush Goyal
- ByStartupStory | February 22, 2023
Commerce and Industry Minister Piyush Goyal has said that India’s goods and services exports are expected to reach around $1 trillion each by 2030.
He said, “That is the trajectory I can see, which will mean merchandise doing 8- 9.5% and services doing anywhere between 16-17%.” He added every country wants to invest in India because of its start-up ecosystem.
The country’s merchandise and services exports touched an all-time high of USD 422 billion and USD 254 billion, respectively, in 2021-22.
“My own estimates seem to suggest that we will converge (goods and services exports) by 2030…seven years from now at about USD 1 trillion of goods and USD 1 trillion of services (exports), ” Goyal added.
The services sector, driven by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths, he added.
“The world wants to engage with our Startups because of their integrity and transparency,” the ministry said.
During April-January this fiscal, goods exports rose by 8.5 per cent to USD 369.25 billion and services exports are estimated to touch USD 272 billion this fiscal.
Follow Startup Story
Related Posts
