India can do extremely well by focusing on services, as it aims to increase the services trade to $1 trillion by 2030, Union Commerce Secretary Sunil Barthwal said on September 17.
“By focusing on services, we can do extremely well. This is the focus area of the new government,” Barthwal said in a media briefing on achievements of the Union government's completion of 100 days.
India has set a goal of achieving $2 trillion in trade by 2030, of which 50 percent would have to come from services.
“We want at least a 10 percent share in e-commerce exports. In the next five years, we should reach the $200-billion mark as the World crosses $2 trillion in e-commerce exports,” Barthwal further added underlining the importance of e-commerce exports.
The government is also targeting to take organic exports to $1 billion by FY26. Earlier this year, it had announced a revamp of National Programme of Organic Production.
Earlier this month, the government launched a one-stop solution for trade, where Indian exporters can view opportunities available in other countries. It also announced the BHASKAR platform to register start-ups and bring all start-ups, investors and other parts of the ecosystem on the same platform.
“The aim of the government has been to improve ease of doing business, transparency, efficiency and focus on MSMEs,” said L Satya Srinivas, Additional Secretary, Department of Commerce.
The government has increased the insurance cover for MSME exporters, which is expected to help provide Rs 20,000 crore of credit at low cost.
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