Government aims to achieve USD 2 trillion exports by 2031: Commerce Ministry
Goyal highlighted the need for an IT-enabled monitoring platform to facilitate regular tracking of progress
The government is targeting USD 2 trillion in total exports by 2030-31, comprising USD 1 trillion in merchandise exports and USD 1 trillion in services exports, according to the statement issued by Commerce Ministry, on Wednesday.
Commerce Minister Piyush Goyal chaired a high-level review meeting to deliberate on the Plan of Action for achieving India’s USD 2 trillion export target by 2030-31 and to review the implementation of the Export Promotion Mission (EPM).
Goyal said achievement of the target will be based on three key pillars. These include clearly defined and actionable points with timelines, where each sectoral action is assigned to a Nodal Joint Secretary, classified as supply-side or demand-side, linked to key performance indicators and aligned with short, medium and long-term timelines.
He noted the importance of inter-departmental coordination, with supporting ministries and departments identified for each task to ensure effective resolution of exporter-related issues.
In addition, Goyal highlighted the need for an IT-enabled monitoring platform to facilitate regular tracking of progress, with an automated escalation mechanism for review at the levels of secretary and minister.
Goyal also said in consultation with the concerned line Ministries, priority sectors be identified where a clearly defined import substitution strategy can be pursued alongside efforts to boost exports.
He reviewed the implementation of the Export Promotion Mission (EPM), a flagship MSME-focused initiative aimed at addressing key bottlenecks faced by exporters and enabling broad-based, inclusive and sustainable export growth.
Emphasising effective implementation, the Goyal said the benefits of all schemes must reach exporters at the ground level, particularly genuine and first-time exporters and MSMEs.
He directed that awareness and outreach efforts be strengthened through Export Promotion Councils, Commodity Boards and DGFT Regional Authorities to ensure that exporters are fully informed about available schemes and their modalities.
Goyal also highlighted the need to focus on overseas warehousing and logistics as well as testing, inspection and certification components, which are critical for enhancing the global competitiveness of MSMEs.
