NEW DELHI: India is setting its sights on $1 trillion in exports by 2030, with $250 billion expected to come from the engineering exports, according to Commerce Secretary Sunil Barthwal.
This ambitious target underscores the critical role of engineering, including automobiles and equipment, which accounts for nearly 25 per cent of India’s total exports.
Barthwal emphasised that infrastructure development is a cornerstone of this vision. Projects such as expanding ports, airports, railways, and road widening initiatives are expected to bolster export capacity. Additionally, the expanding middle class is seen as a significant driver of export growth.
Growth engine
While India is traditionally recognised for its leather and textile exports, the engineering sector is emerging as a key player. Speaking at a conference of construction equipment manufacturers, Barthwal highlighted the sector’s vital role in achieving the $1 trillion export goal.
Prime Minister Narendra Modi has also championed multi-modal transport solutions to enhance last-mile connectivity, aligning with infrastructure priorities that benefit the engineering sector.
Barthwal pointed out that the global shift toward energy transition presents new opportunities for India’s engineering industry to innovate and develop technologies supporting net-zero carbon goals.
Fostering innovation
The Commerce Secretary encouraged India’s youth to focus on innovation, patents, and commercialization, citing Prime Minister Modi’s engagement with young entrepreneurs at Bharat Mobility. Discussions included efficient charging systems and advanced mobility solutions.
Barthwal stressed the need for safe and secure travel within the mobility industry, with the Commerce Ministry actively addressing challenges to ensure a level playing field for Indian companies against global competitors.
Global expansion goals
Barthwal urged businesses to expand internationally by establishing global capability centres, which would enhance competitiveness and align with India’s export ambitions. The government is committed to addressing barriers faced by the industry to facilitate this global push.
India’s $250 billion engineering export target reflects a strategic focus on economic growth through innovation and infrastructure development, aiming to strengthen the nation’s position in global trade.
