Huge opportunities will open up when exports touch $2 trn by 2030: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said huge opportunities for people and businesses will be opened up when the country's goods and services exports touch USD 2 trillion by 2030.

In the last two years, he said the country's exports jumped from USD 500 billion to USD 767 billion in 2022-23.

India is a USD 3.5 trillion-economy today and will become at least USD 35 trillion- economy by 2047 and "imagine what opportunities it will open up for all the people of India," he said.

According to him, by 2030, "we will see USD 2 trillion of exports from India, imagine the opportunities that it will open up".

At the Times Network India Economic Conclave here, the minister also said the country's economy is growing at a faster pace and it is clearly reflected from the 7.2 per cent GDP growth in 2022-23.

"India is in the mode of stability with a proactive government strengthening every element of the economy in a manner which will hold us in good stead in our pursuit to make India a developed nation by 2047," he said, adding that "this is the work in progress".

India's exports contracted by 12.7 per cent, third month in a row, to USD 34.66 billion in April due to the global demand slowdown even as the trade deficit reduced to a 20-month low of USD 15.24 billion, according to the government data.