Latest News | Goods and Services Exports May Reach USD 1 Trillion Each by 2030: Piyush Goyal
Get latest articles and stories on Latest News at LatestLY. India's goods and services exports are growing at a healthy rate and are expected to be around USD 1 trillion each by 2030, Commerce and Industry Minister Piyush Goyal said on Tuesday.
New Delhi, Feb 21 (PTI) India's goods and services exports are growing at a healthy rate and are expected to be around USD 1 trillion each by 2030, Commerce and Industry Minister Piyush Goyal said on Tuesday.
The country's merchandise and services exports touched an all-time high of USD 422 billion and USD 254 billion, respectively, in 2021-22.
"My own estimates seem to suggest that we will converge (goods and services exports) by 2030...seven years from now at about USD 1 trillion of goods and USD 1 trillion of services (exports).
"That is the trajectory I can see which will mean merchandise doing 8- 9.5 per cent and services doing anywhere between 16-17 per cent, Goyal said here at an event.
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The services sector, driven by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths, he added.
He also said that every country wants to invest in India because of its startup ecosystem.
"The world wants to engage with our Startups because of their integrity and transparency," the ministry said.
During April-January this fiscal, goods exports rose by 8.5 per cent to USD 369.25 billion and services exports are estimated to touch USD 272 billion this fiscal.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)