Piyush Goyal maintains optimism on $2 trillion export target

Union Commerce and Industry Minister Piyush Goyal expressed optimism that the country will meet the $2 trillion export target by 2030, despite geopolitical headwinds and inflationary concerns.

The veteran BJP minister was in Kolkata for the inauguration of the Patsan Bhavan on Saturday, which is home to the Jute Commissioner's office and headquarters of Jute Corporation of India and National Jute Board.

Acknowledging the challenging global situation, Goyal said geopolitical headwinds impact macroeconomic situations. The Ukraine war, Israel conflict and issues related to the Red Sea, he said, are some of the factors impacting trade.

Speaking on redressal, he said: “To address low food grain production and curb domestic inflation, we have implemented restrictions.”
The minister maintained optimism that India's exports will continue to grow, aiming at reaching $2 trillion by 2030 from the current $770-775 billion.

Highlighting the potential of the jute industry, the minister said with contribution from the jute sector and concerted efforts from the Centre and state governments, “we can achieve new heights".

Notably, India currently exports around Rs 1,500 crore worth of jute.

Goyal also holds the portfolios of textiles and consumer affairs, food and public distribution.

He urged industry players to increase the figure of exports, and asked the jute sector to showcase products at the upcoming Bharat Tex 2024, the world’s biggest-ever textiles event, to be organised from February 26-29 in New Delhi.

The Bharat Mobility Expo is also slated to take place in the first week of February, in Bharat Mandapam (Pragati Maidan).