India is targeting engineering exports of $250B by 2030: Commerce secretary
Addressing a conference of construction equipment manufacturers, Commerce Secretary Sunil Barthwal said, in the process of energy transition, there will be a demand for adopting technologies that have net-zero carbon emission.
The government's target of $1 trillion export includes $250 billion from the engineering sector, Commerce Secretary Sunil Barthwal said on Sunday.
The government has set a target to achieve $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% of the total exports. Tomorrow when India is looking at $1 trillion of exports, $250 billion of exports we are expecting from the engineering industry," Barthwal said.
He was addressing a conference of construction equipment manufacturers.
"This is the ambition that we have taken, which is based on ground reality. It is based on the fact 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.
The secretary said Prime Minister Narendra Modi had spoken about multi-modal transport to provide last-mile connectivity. He said that in the process of energy transition, there will be a demand for adopting technologies that 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 had, at Bharat Mobility, interacted with several youths who are looking for opportunities in the sector, making the charging system efficient.
The commerce secretary also emphasised 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 provide a level playing field and enable the industry to compete with global players.
Barthwal appealed to industry players to make an effort to go global and set up global capability centres.
Edited by Swetha Kannan