Get All Access for $5/mo

Goods And Services Exports May Touch $1 Trillion Each By 2030, Says Piyush Goyal According to reports, the country's merchandise and services exports touched an all-time high of $422 billion and $254 billion, respectively, in 2021-22

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Piyush Goyal Twitter handle

Commerce industry minister Piyush Goyal, on Tuesday, has said that India's goods and services exports are expected to be around $1 trillion by 2030, according to a PTI report.

"My own estimates seem to suggest that we will converge goods and services exports by 2030...seven years from now at about $1 trillion of goods and $1 trillion of services exports. That is the trajectory I can see which will mean merchandise doing 8- 9.5% and services doing anywhere between 16-17%," said Goyal in a statement.

The report further stated that the country's merchandise and services exports touched an all-time high of $422 billion and $254 billion, respectively, in 2021-22.

Goyal further reportedly noted that the services sector, driven by the IT industry, has created a potential not only in terms of jobs, giving value to talent, but also providing India with an opportunity to showcase to the world its strengths.

"The world wants to engage with our startups because of their integrity and transparency," he said while adding that every country wants to invest in India because of its startup ecosystem.

Furthermore, Goyal said that India would soon touch the mark of being a $5 trillion economy and said that it would emerge as the third largest economy in the world by 2027-28. According to him, by 2047 India will be a developed economy with a $32 trillion economy where every last citizen would have a quality of life.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.