Union Commerce and Industry Minister Piyush Goyal on Wednesday chaired a high-level review meeting to accelerate progress toward India’s ambitious goal of achieving $2 trillion in exports by 2030-31, urging officials to sharpen focus on MSMEs, agricultural exports, logistics, certification, and global branding.
The government has set a target of $1 trillion each in merchandise and services exports by 2030-31. To support this, the Department of Commerce has developed a structured Export Monitoring Framework, breaking down the national goal into sector-specific strategies across engineering goods, textiles, electronics, pharmaceuticals, chemicals, and services.
During the meeting, Goyal stressed that success will hinge on clear timelines, measurable outcomes, and strong inter-ministerial coordination. He called for an IT-enabled monitoring system to track progress in real time and ensure swift resolution of exporters’ issues.
A key focus was the implementation of the Export Promotion Mission (EPM), a flagship initiative designed to support exporters—particularly MSMEs—through improved access to finance and markets. The mission operates through two sub-schemes: Niryat Protsahan, focused on trade finance, and Niryat Disha, aimed at enhancing market access.
Officials noted that ten components under the EPM have already been operationalised, including interest subvention, export factoring, credit support for e-commerce exporters, collateral assistance, risk-sharing mechanisms, and support for testing, certification, logistics, and warehousing.
Goyal emphasised that these benefits must reach grassroots exporters, including first-time exporters and small businesses. He directed authorities to strengthen outreach through Export Promotion Councils, Commodity Boards, and regional offices of the Directorate General of Foreign Trade.
Highlighting priority areas, the minister called for a stronger push on agricultural exports and MSMEs, alongside improvements in overseas warehousing and certification systems to enhance global competitiveness. He also suggested identifying sectors where import substitution strategies can complement export growth.
To boost global visibility, Goyal underscored the need to build a unified “Brand India” identity across international markets. He proposed developing a rolling three-year calendar of trade fairs, buyer-seller meets, and trade delegations to give exporters greater predictability and planning support.
The meeting also reviewed a relief scheme introduced under the EPM to assist exporters impacted by the ongoing West Asia crisis.
Concluding, Goyal said the $2 trillion export target is achievable with disciplined execution, continuous monitoring, and coordinated policy action, adding that all initiatives must translate into tangible support in finance, logistics, compliance, and market access for exporters nationwide.
