Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030
India's goods and services exports are growing at a healthy rate and are expected to be around USD 1 trillion each by 2030, Commerce and Industry Minister Piyush Goyal said on Tuesday. The country's merchandise and services exports touched an all-time high of USD 422 billion and USD 254 billion, respectively, in 2021-22. "My own estimates seem to suggest that we will converge (goods and services exports) by 2030...seven years from now at about USD 1 trillion of goods and USD 1 trillion of services (exports). "That is the trajectory I can see which will mean merchandise doing 8- 9.5 per cent and services doing anywhere between 16-17 per cent, Goyal said here at an event. The services sector, driven by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths, he added. He also said that every country wants to invest in India because of its startup ecosystem. "The w
Bangladesh's service exports grew faster; Asia's growth averaged 16.9% compared to India's 16.6% growth in service exports
However, this is provisional data and the figure may increase once the final data is released, he added
The services exports (receipts) in September 2019 stood at $17.54 billion
The exports stood at 17.73 billion in February.
Cumulatively, the services exports during the April- October period of the 2017-18 fiscal reached $94.48 billion