Regulatory adaptation, infra boost key to achieve $2 trillion export target by 2030: Official

Export potential: India's export potential and integration hinges on regulatory adaptation, and infrastructure enhancement, to achieve export target of $2 trillion by 2030, Santosh Sarangi, Additional Secretary & Director General of DGFT India said at the Asia Pacific Policy Summit in New Delhi on Thursday. He went on to add that current regulations pose challenges, particularly in managing returns.

Sarangi also highlighted how COVID-19 accelerated e-commerce growth, empowering artisans, handloom, handicraft, and product manufacturers to engage in global trade.

According to Sarangi, there is a need for mindset-shift among trade regulators to consider the evolving export landscape and enable local artisans to connect directly with international consumers.

Sarangi added that COVID-19 accelerated e-commerce growth, empowering artisans, handloom, handicraft, and product manufacturers to engage in global trade.

Small Enterprises

Sarangi, throwing light on small enterprises, said that private players can play an important role in helping small enterprises become a part of the global value chains, highlighting the MoU signed with players like Amazon and others including one they are about to sign with DHL. According to him, cross-border e-commerce exports offer a pathway to streamline this process.

The government has set a target of $2 trillion in exports to be achieved by 2030 which includes $1 trillion in merchandise exports and $1 trillion in services exports.