$2 trn by 2030: Piyush Goyal

New Delhi - Commerce and Industry Minister Piyush Goyal recently 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 a Media Event, 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.