News Brief
Government Aims For Exports Worth $500 Billion By 2030; Targets Automobile, Drone, Textile Sectors For Manufacturing Boost
The sectors identified for concentrated efforts include auto components, automobiles among others.
In a strategic move to bolster domestic manufacturing and elevate exports, the Indian government is setting ambitious targets for key sectors, with the aim of reaching $500 billion by 2030.
The initiative, discussed during a meeting convened by the Department of Promotion of Industry and Internal Trade, in collaboration with Invest India and the SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee, targets 10-11 critical sectors.
As per reports by Economic Times, the sectors identified for concentrated efforts include auto components, automobiles (including EVs), capital goods, chemicals, drones, medical devices, aerospace and defence, leather and footwear, textiles, and space.
The government aims to drive investments into these sectors and enhance manufacturing capabilities to achieve the export target, witnessing a substantial increase from the current $160 billion.
The recent Chintan Shivir brought together industry leaders, knowledge partners, and government officials from key sectors.
Deliberations during the event revolved around understanding the current scenario, addressing challenges, and formulating tailored recommendations to stimulate the nation's manufacturing landscape.
Presided over by Commerce and Industry Minister Piyush Goyal, Chemicals and Fertilisers Minister Mansukh Mandaviya, and Heavy Industries Minister Mahendra Nath Pandey, the meeting showcased a collective commitment to creating a conducive environment for robust economic growth and international competitiveness.
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