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.

Next Story
Real Estate

White Flower Developers Expands into Goa with Luxury Villas

White Flower Developers (WFD) is entering the Goa real estate market through the acquisition of three villa projects across Assagao, Tivim and Siolim in North Goa.The Assagao project comprises five luxury villas with an estimated value of Rs 600 million and a development area of 2,500 sq m. The Tivim project includes eight villas valued at around Rs 500 million, while Igreha Vaddo, a 150-year-old Portuguese-style heritage villa project in Siolim spread across 1,200 sq m, carries an estimated value of Rs 200 million.The company said the move aligns with its strategy of targeting high-potential ..

Next Story
Real Estate

Jenika Ventures Launches Real Estate Ki Home Delivery Campaign

Jenika Ventures has launched its radio campaign, ‘Real Estate Ki Home Delivery’, aimed at simplifying the home-buying process by offering personalised property consultation and curated project options directly to customers at home.The campaign seeks to reduce the need for multiple site visits, lengthy travel and repeated property searches by enabling buyers to explore projects, receive expert guidance and evaluate options from home with their families.Jenika Ventures currently operates across New Delhi, Noida, Gurugram, Pune, Kolkata, Bengaluru and Hyderabad. The company said the campaign ..

Next Story
Real Estate

NCR Luxury Housing Sees Rising NRI Influence

NCR’s luxury housing market is witnessing changing buyer preferences as non-resident Indians (NRIs) and globally exposed homebuyers increasingly influence residential design, amenities and project delivery standards.According to ANAROCK Research, average luxury housing prices in Delhi-NCR increased nearly 72 per cent between 2022 and 2025, rising from around Rs 13,450 per sq ft to over Rs 23,000 per sq ft. Knight Frank India also reported a 19 per cent year-on-year increase in capital values across NCR during 2025, as per industry reports.Developers across Gurugram, Dwarka Expressway and Noi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->