NEW DELHI: A discussion on ‘Roadmap to $2-trillion export economy’ at the India Business and Trade Conclave brought forward the views of an expert panel on how India could achieve the vision underlined by the Foreign Trade Policy 2023, through accelerated growth in merchandise and services exports.
Speaking on how future Free Trade Agreements (FTA) could help our industries to achieve the vision, Ajay Srivastava, Founder of Global Trade Research Initiative, stated that as per current scenario, India’s 25 per cent of exports are happening through FTA partners, but as we are going ahead with USA, EU, UK, and other countries, this could jump to 70 per cent in future.
While services constitute an area that does not get too much attention in discussions around the 2023 target, Atul Govil, Chief Transformation Officer, Business Head (Bio-Polymers), at India Glycols, emphasised that technology could actually prove pivotal to the achievement of the vision.
According to Devashish Garg, Director of Shree Lal Mahal Group, to achieve the target of $1 trillion of merchandise export in 2030, the country will have to grow agriculture and elite products exports from $42 billion (in FY 2020-21) to $126 billion. He felt while it was a tough target, it could be achieved.
