India to meet $2 trillion export target by 2030: Piyush Goyal

Tags: Economy/Finance

Speaking at the Exporters Conclave held at Chennai on 16 October 2022, Union Minister for Commerce and Industry Piyush Goel said that India will achieve the export target for goods and services to $ 2 trillion by 2030.

India’s total export in 2021-22 was 671.81 billion. India exported $417.81 billion worth of goods in 2021-22 and the service sector export in 2021-22 was $254 billion. 

In the current financial year the export of goods from India in the first six months (April -September 2022) was $$229.05 billion.

The Minister also said that by 2047, the country will become a $ 30 trillion economy with 25 per cent share in exports.

In 2021-22, the share of exports in the country’s Gross Domestic Product (GDP) was 21.4% .The share of the export of goods to the GDP was 13.3% in 2021-22 while the share of the service sector was 8.1% of GDP.

The Export conclave was organised by the Federation of the Indian Export Organisation (FIEO).

Federation of the Indian Export Organisation (FIEO)

It was set up by the Union Ministry of Commerce in 1965 as an apex export promotion body in India.

It works to bring together and coordinate all the stakeholders engaged in the promotion of exports from India.

It provides the crucial interface between the International Trading community of India with the Central and State Governments, Financial Institutions, Ports, Railways, Surface Transport and all engaged in Export Trade Facilitation.

Headquarters: New Delhi

President of FIEO: Dr A Sakthivel