The Department of Commerce, under the leadership of Additional Secretary Mr. Anant Swarup, is actively engaged in identifying crucial infrastructure requirements and strategic sectors crucial for achieving India’s ambitious goal of reaching US$ 1 trillion in merchandise exports by 2030. Working closely with the Asian Development Bank for an extensive analysis, Mr. Swarup stresses the necessity of evaluating the country’s capacity to handle an anticipated US$ 2.5 trillion in export-import (EXIM) trade, with imports projected at US$ 1.5 trillion.
During a recent conference hosted by the Confederation of Indian Industry (CII) focusing on resilient export logistics, Mr. Swarup reiterated India’s commitment to strengthening its integration into global value chains (GVCs), emphasizing the imperative of bolstering manufacturing capabilities. He highlighted the significance of identifying key export hubs and logistics nodes for a comprehensive assessment to address existing infrastructure deficiencies. Furthermore, he drew parallels between exports and imports, citing China’s trade dynamics as a noteworthy example, where exports and imports were closely aligned, with exports amounting to approximately US$ 3.5 trillion, nearly matched by imports at US$ 3.2 trillion.
