India sets ambitious target of USD 250 Billion in engineering exports by 2030

NEW DELHI : Indian Government aims to achieve USD 1 trillion in exports by 2030, with USD 250 billion expected from the engineering sector, according to Commerce Secretary Sunil Barthwal. This ambitious target reflects the significant role of engineering, which includes automobiles and equipment, contributing nearly 25% to India’s total exports.

Barthwal highlighted the government’s focus on infrastructure development as a key driver for this goal. The expansion of ports, airports, and railways, along with road widening projects, supports this vision. He also mentioned the growing middle class as a factor influencing export growth.

Engineering Sector’s Role in Export Growth

India is traditionally known for its leather and textile industries. However, the engineering sector is becoming increasingly vital. Barthwal addressed a conference of construction equipment manufacturers, emphasizing the sector’s potential in reaching the USD 1 trillion export target.

Prime Minister Narendra Modi has discussed multi-modal transport to enhance last-mile connectivity. This approach aligns with the government’s infrastructure goals and supports the engineering sector’s growth. Barthwal noted that energy transition efforts will create demand for technologies with net-zero carbon emissions.

Opportunities for Innovation and Mobility

Youth in India are encouraged to explore innovative ideas that can lead to patents and commercial production. Barthwal mentioned Prime Minister Modi’s interaction with young entrepreneurs at Bharat Mobility, focusing on efficient charging systems and mobility solutions.

The commerce secretary stressed the importance of safe and secure travel within the mobility industry. The Commerce Ministry is addressing challenges faced by the industry to ensure a level playing field against global competitors.

Global Expansion and Capability Centres

Barthwal urged industry players to expand globally by establishing global capability centres. This move would enhance their competitiveness and align with India’s export ambitions. The government’s support aims to facilitate this expansion by overcoming existing industry challenges.

The government’s export target underscores its commitment to economic growth through strategic sectoral development. By leveraging infrastructure improvements and fostering innovation, India aims to strengthen its position in global trade.