Goyal remains optimistic about $2 trillion export target

Piyush Goyal expresses optimism for India's $2 trillion export target by 2030, despite global challenges.

Union Commerce and Industry Minister Piyush Goyal on January 6 expressed optimism that the country will meet its ambitious $2 trillion export target by 2030, notwithstanding geopolitical headwinds and inflationary concerns.

Speaking at the inauguration of the Patsan Bhavan, which houses the Jute Commissioner's office and headquarters of Jute Corporation of India and National Jute Board, in New Town, Kolkata, Mr. Goyal acknowledged the challenging global situation.

He cited the Ukraine war, the Israel conflict and issues related to the Red Sea as factors impacting trade.

"To address low food grain production and curb domestic inflation, we have implemented restrictions. However, despite all these challenges, India's exports will continue to grow, aiming at reaching $2 trillion by 2030 from the current $770-775 billion," Mr. Goyal said.

He highlighted the potential of the jute industry, stating that with "contribution from the jute sector and concerted efforts from the Centre and State governments, we can achieve new heights".

India currently exports around ₹1,500 crore worth of jute.