India targets 10% share in global exports by 2047

New Delhi, Oct 25 (KNN) The central government has set an aim to increase its export in the global trade to 3 per cent by 2027 and 10 per cent by 2047. 

As per a report by The Economic Times, the government plans to achieve this target by promoting hundred Indian brands as global champions.

It will set up a Customs ‘ONE’ to provide import export clearance within one hour of arrival at entry points and customs ports to facilitate trade.

This initiative falls under several steps by the commerce and industry ministry under the India@2047 umbrella. 

It includes setting up economic zones outside India as an extension of the Atmanirbhar Bharat initiative.

The focus sectors are pharmaceuticals, gems & jewellery, marine & agriculture, textiles & leather, engineering goods, electronics & telecom products, and chemicals.

The roadmap also includes branding India as a supplier of high-value and high-growth products, enhancing the participation of MSMEs in trade, and attaining a 10 per cent share in niche products called "creative economy".  (KNN Bureau)