India Can Reach $2 Trillion Export Goal by 2030: Experts

Lucknow: Experts believe India has the potential to achieve a remarkable $2 trillion export target by 2030. According to a study conducted by the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP), the Asia-Pacific (APAC) region, fueled by the growth of e-commerce, is set to surge from a $2.9 trillion market value in 2022 to an impressive $6.146 trillion by 2030.

Highlighting the significance of e-commerce in driving economic growth and trade expansion, the inaugural Asia Pacific E-Commerce Policy Summit was recently concluded, organized by the Indian Council for Research on International Economic Relations (ICRIER) in collaboration with UN-ESCAP.

Key stakeholders from government, business, and academia convened at the summit to discuss the role of regulatory frameworks and end-to-end e-commerce players in unleashing India’s export potential. Mr. Santosh Kumar Sarangi, Additional Secretary & Director General, Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry (MoC&I), emphasized the importance of adapting to the changing export landscape and forging partnerships with private players like Amazon and DHL to assist small enterprises in joining global value chains.

Speaking at the summit, Mr. Mahendra Nerurkar, VP Payments for APAC MENA & LATAM, Amazon, highlighted the significance of customer trust and convenience in cross-border payments, citing the transformative impact of technologies like UPI in simplifying money transfers.

Dr. Rupa Chanda, Director of Trade, Investment, and Innovation, UNESCAP, commended the summit for bringing together stakeholders to share knowledge and best practices, while Dr. Deepak Mishra, Director & CE, ICRIER, expressed pride in organizing the event and hoped it would become a regular platform for engaging with e-commerce stakeholders in the region.

The summit underscores the importance of collaboration and dialogue in shaping policies that enable India to harness the full potential of e-commerce and achieve its export goals in the coming decade.