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Latest News | India Targets USD 250 Bn of Engineering Exports by 2030 Says Commerce Secretary
Greater Noida, Jan 19 (PTI) The government’s target of USD 1 trillion export includes USD 250 billion from the engineering sector, Commerce Secretary Sunil Barthwal said here on Sunday.
The government has set a target to achieve USD 1 trillion export from India by 2030.
“India is known for leather, textile and traditional sectors but engineering sector in India which includes automobiles, equipment etc is almost close to 25 per cent of the total exports. Tomorrow when India is looking at USD 1 trillion of exports, USD 250 billion of exports we are expecting from the engineering industry,” Barthwal said.
He was addressing a conference of construction equipment manufacturers.
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“This is the ambition that we have taken which is based on ground reality. It is based on the fact that how the middle class is growing, the government focus on infrastructure development within the country, focus on development of ports, airports, railway modernization, broadening of roads,” Barthwal said.
Secretary said that Prime Minister Narendra Modi spoke about multi-modal transport which is to provide last-mile connectivity. He said that in the process of energy transition, there will be demand for adopting technologies which have net zero carbon emission.
“This will also create huge opportunities. Youth in India are also looking for certain innovative ideas on which they can take patents and start commercial production,” Barthwal said.
He said that Prime Minister Modi at Bharat Mobility interacted with several youths who are looking for opportunities in the sector, making the charging system efficient.
The commerce secretary also emphasized that the mobility industry should focus on ease of travelling as well as safe and secure travel.
He said that the Commerce Ministry is working on addressing certain disabilities that the mobility industry is facing to help them provide a level playing field and enable them to compete with global players.
Barthwal appealed to industry players to make an effort to go global and set up global capability centres.
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