The Union Minister of Commerce and Industry, Piyush Goyal, chaired a high-level review meeting to deliberate on the Plan of Action for achieving India’s USD 2 Trillion export target by 2030–31 and to review the implementation of the Export Promotion Mission (EPM).
India is targeting USD 2 Trillion in total exports by 2030–31, comprising USD 1 Trillion in merchandise exports and USD 1 Trillion in services exports. The Department of Commerce has developed a structured Export Monitoring Framework, which breaks down the national target into sector-wise actions across Engineering Goods, Textiles, Electronics, Pharmaceuticals, Chemicals and Services.
Reviewing the framework, Goyal stated that achievement of the target will be based on three key pillars. These include clearly defined and actionable points with timelines, where each sectoral action is assigned to a Nodal Joint Secretary, classified as supply-side or demand-side, linked to key performance indicators and aligned with short, medium and long-term timelines. He also emphasised the importance of inter-departmental coordination, with supporting Ministries and Departments identified for each task to ensure effective resolution of exporter-related issues. In addition, Goyal highlighted the need for an IT-enabled monitoring platform to facilitate regular tracking of progress, with an automated escalation mechanism for review at the levels of Secretary and Minister.
The Minister further directed that, in consultation with the concerned line Ministries, priority sectors be identified where a clearly defined import substitution strategy can be pursued alongside efforts to boost exports.
Goyal reviewed the implementation of the Export Promotion Mission, a flagship MSME-focused initiative aimed at addressing key bottlenecks faced by exporters and enabling broad-based, inclusive and sustainable export growth. The EPM is being implemented through two integrated sub-schemes, ‘Niryat Protsahan’, focused on access to trade finance, and ‘Niryat Disha’, focused on market access.
