Engineering Exports Aim For USD 250 Bn Goal: Commerce Secy
Updated: Jan 20, 2025 02:57:32pm

Engineering Exports Aim For USD 250 Bn Goal: Commerce Secy
New Delhi, Jan 20 (KNN) Commerce Secretary Sunil Barthwal announced on Sunday that engineering exports are expected to contribute USD 250 billion to India's ambitious target of achieving USD 1 trillion in total exports by 2030.
Speaking at a conference of construction equipment manufacturers, Barthwal highlighted that the engineering sector, encompassing automobiles and equipment, currently represents approximately 25 percent of India's total exports.
The export target is rooted in several fundamental factors, including the expanding middle class, the government's substantial focus on infrastructure development, and ongoing modernisation of ports, airports, railways, and roadways.
Barthwal emphasised that this ambitious goal is grounded in practical considerations and current economic trends.
The Commerce Secretary referenced Prime Minister Narendra Modi's vision for multi-modal transport aimed at ensuring last-mile connectivity.
He noted that the transition toward clean energy would create significant opportunities, particularly in technologies supporting net-zero carbon emissions.
This shift is expected to generate opportunities for young innovators seeking to develop and patent new technologies, especially in areas such as efficient charging systems.
Addressing the mobility industry's concerns, Barthwal indicated that the Commerce Ministry is actively working to resolve various challenges faced by the sector.
The ministry's efforts aim to establish a level playing field that would enable Indian companies to compete effectively with global players. He urged industry stakeholders to expand their horizons by establishing global capability centers and pursuing international opportunities.
The announcement underscores India's evolving role in global trade, marking a significant shift from its traditional export strengths in leather and textiles to emerging opportunities in the engineering sector.
The government's comprehensive approach combines infrastructure development, technological innovation, and strategic industry support to achieve its ambitious export targets.
(KNN Bureau)