Disclaimer:

Some parts of this website are currently undergoing development, but exciting updates are on the way. Stay tuned for an exhilarating experience that will keep you captivated! Fair winds and following seas, The DST.news Team.
Home > All news > Economy, Export Import > Trade policy calibrated with growth path; aiming for  $2trn exports by 2030  : Piyush Goyal

Trade policy calibrated with growth path; aiming for  $2trn exports by 2030  : Piyush Goyal

March 30, 2024
Reading Time: < 1 minute
Shri Piyush Goyal at the G7 Trade Ministers Meeting in Osaka, Japan.

New Delhi - India’s trade policy is calibrated with its economic growth trajectory as it aims to achieve a target of $2 trillion in exports by 2030, Commerce and Industry Minister Piyush Goyal said recently. “Our trade policy is calibrated based on our development journey, yet open for expansion. We will be doing $2 trillion of exports by 2030 and I have no doubt we will achieve it,” the Minister said at a media event in New Delhi.

Goyal said that India had pulled out of the Regional Comprehensive Economic Partnership (RCEP) in 2019 due to stakeholder concerns and to protect the Indian market from being flooded by cheap Chinese goods.

He further stated that if India had not withdrawn from the RCEP, the country would not have scripted the growth story it has in recent years.

The flood of sub-standard, low-quality goods coming in from certain geographies would have killed the investment climate in the country, he added.

Goyal pointed out that even America and Europe still levy high tariffs on several products.

At the same time, he said that India needs to internationalize its economy and look at a greater degree of engagement with the world and high growth in exports. The minister cited the recently signed European Free Trade Association (EFTA), in which Iceland, Liechtenstein, Norway, and Switzerland, have committed an investment of $100 billion to create 1 million direct jobs in India in the next 15 years in exchange for market access.

Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.

FOLLOW US ON SOCIAL MEDIA
Today's News
Follow us
facebook | DST NewsTwitter | DST NEWSlinkedin | DST NEWSInstagram | DST NEWSYouTube | DST NEWS
© DAILY SHIPPING TIMES
Back
Home
crosschevron-down

You cannot copy content of this page

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram