Piyush Goyal Sets USD 1 Trillion Export Target at CII Partnership Summit Curtain Raiser

New Delhi, Oct 8 (KNN) Union Commerce and Industry Minister Piyush Goyal said India has set a target of achieving USD 1 trillion in exports in the current year, after recording USD 863 billion in exports last year.

Goyal made the remarks at the curtain raiser of the 31st CII Partnership Summit in New Delhi. He said the target would require nearly 16 percent growth, while international trade is expected to grow by around 2.5-3 percent.

The minister said India has around 63 million MSMEs and around 250,000 startups, and expressed confidence that the country would continue to grow at more than 7 percent.

The Partnership Summit will be held in Visakhapatnam on November 12 and 13. Goyal urged the Confederation of Indian Industry (CII) to establish FTA utilisation desks across its state councils to help MSMEs use free trade agreements, understand rules of origin and access new markets.

He said India’s free trade agreements protect sensitive sectors, including agriculture, fisheries and MSMEs, while providing market access for Indian agricultural, marine, engineering and electronic products.

Goyal said India’s economy, currently around USD 4 trillion, has the potential to reach USD 30 trillion by 2047.

He also said Google’s first AI hub is coming up in Visakhapatnam and Amaravati is emerging as a quantum technology hub. The Partnership Summit will bring together discussions on technology, trade, investment and business opportunities.

(KNN Bureau)