Great scope for India to double exports and enhance contribution in global trade ecosystem: Comm Secy

New Delhi: Speaking at the National Exports Summit organised by Confederation of Indian Industry (CII) on Thursday in New Delhi, Commerce Secretary Sunil Barthwal stated that there is a great scope for India to double its exports and further enhance its contribution in the overall global trade ecosystem.

"A coherent trade strategy that promotes greater integration and participation of India into Global Value Chains is an imperative. Such a strategy will be crucial to achieve the overall target of achieving $2 trillion overall exports target by 2030," the commerce Secretary

noted.

Barthwal further mentioned the necessity for India to leverage its strength in the services sector to integrate in the value chains. Highlighting the significance of E-commerce, he added, "India should reap the benefits of the e-commerce in strengthening the capabilities of MSMEs to join the supply

chains."

Affirming the government's aim to increase exports, the Secretary mentioned that the strategy for export promotion going forward will be more specific which shall include strengthening the data and analytical exercise; increased interaction with exporters; and developing country & sector related strategies as well as targets, among others. "Our aim is to make Districts manufacturing hubs through enhanced export promotion," he further added.

Sanjay Budhia, Chairman, CII National Committee on EXIM & MD, Patton Group said "To reach the target of $1 trillion each in manufacturing and services, effective collaboration amongst key stakeholders, including relevant policymakers from the Central Government, State Governments, Indian Missions and the Industry is crucial". Budhia also stressed the need of a national

shipping regulator.