+
Goyal Chairs Review On Plan To Achieve USD Two tn Export Target
ECONOMY & POLICY

Goyal Chairs Review On Plan To Achieve USD Two tn Export Target

The Union Minister of Commerce and Industry chaired a high-level review of the Plan of Action to achieve India’s USD two tn export target by 2030–31, comprising USD one tn in merchandise and USD one tn in services. The Department of Commerce (DoC) has prepared a structured Export Monitoring Framework to convert the national target into sectoral actions and guide coordinated implementation.

Reviewing the framework, the minister said achievement would rest on three key pillars: clearly defined actionable points with timelines, assigned Nodal Joint Secretaries and classification of actions as supply-side or demand-side linked to key performance indicators. He emphasised the need for inter-departmental coordination and an IT-enabled monitoring platform with an automated escalation mechanism for Secretary and Minister level review.

The minister directed that, in consultation with line ministries, priority sectors be identified where import substitution can be pursued alongside export expansion. He reviewed the implementation of the Export Promotion Mission (EPM), a flagship Micro, Small and Medium Enterprises (MSMEs)-focused initiative, and its two integrated sub-schemes, Niryat Protsahan for trade finance and Niryat Disha for market access.

He noted that 10 components under the EPM have been operationalised, including interest subvention, alternative trade finance or export factoring, credit assistance for e-commerce exporters, collateral support for export credit, risk sharing for emerging opportunities, testing inspection and certification, market access support, export warehousing and logistics, inland transport and handling, and trade facilitation and intelligence. The minister also took note of a Relief Scheme under the EPM for exporters affected by the West Asia crisis.

Emphasising effective implementation, he directed that benefits reach exporters at the ground level, particularly genuine and first-time exporters and MSMEs, and that awareness and outreach be strengthened through Export Promotion Councils, Commodity Boards and DGFT regional authorities. He highlighted the need to prioritise overseas warehousing and quality infrastructure and to extend market access support beyond councils while developing a rolling three-year calendar of fairs and buyer-seller meets.

The minister underlined strengthening Brand India as an overarching umbrella and said initiatives must translate into tangible support in finance, market access, compliance, logistics and brand visibility. He affirmed that the USD two tn export target is achievable with disciplined execution, real-time monitoring and effective inter-departmental coordination. The meeting was attended by the Director General of Foreign Trade, Additional Secretaries, Joint Secretaries of commodity divisions and other senior officers of the DoC.

The Union Minister of Commerce and Industry chaired a high-level review of the Plan of Action to achieve India’s USD two tn export target by 2030–31, comprising USD one tn in merchandise and USD one tn in services. The Department of Commerce (DoC) has prepared a structured Export Monitoring Framework to convert the national target into sectoral actions and guide coordinated implementation. Reviewing the framework, the minister said achievement would rest on three key pillars: clearly defined actionable points with timelines, assigned Nodal Joint Secretaries and classification of actions as supply-side or demand-side linked to key performance indicators. He emphasised the need for inter-departmental coordination and an IT-enabled monitoring platform with an automated escalation mechanism for Secretary and Minister level review. The minister directed that, in consultation with line ministries, priority sectors be identified where import substitution can be pursued alongside export expansion. He reviewed the implementation of the Export Promotion Mission (EPM), a flagship Micro, Small and Medium Enterprises (MSMEs)-focused initiative, and its two integrated sub-schemes, Niryat Protsahan for trade finance and Niryat Disha for market access. He noted that 10 components under the EPM have been operationalised, including interest subvention, alternative trade finance or export factoring, credit assistance for e-commerce exporters, collateral support for export credit, risk sharing for emerging opportunities, testing inspection and certification, market access support, export warehousing and logistics, inland transport and handling, and trade facilitation and intelligence. The minister also took note of a Relief Scheme under the EPM for exporters affected by the West Asia crisis. Emphasising effective implementation, he directed that benefits reach exporters at the ground level, particularly genuine and first-time exporters and MSMEs, and that awareness and outreach be strengthened through Export Promotion Councils, Commodity Boards and DGFT regional authorities. He highlighted the need to prioritise overseas warehousing and quality infrastructure and to extend market access support beyond councils while developing a rolling three-year calendar of fairs and buyer-seller meets. The minister underlined strengthening Brand India as an overarching umbrella and said initiatives must translate into tangible support in finance, market access, compliance, logistics and brand visibility. He affirmed that the USD two tn export target is achievable with disciplined execution, real-time monitoring and effective inter-departmental coordination. The meeting was attended by the Director General of Foreign Trade, Additional Secretaries, Joint Secretaries of commodity divisions and other senior officers of the DoC.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code