Commerce and Industry Minister Piyush Goyal on Tuesday said India was targeting $1 trillion in exports in the current financial year, expressing confidence that the goal would be achieved after exports grew 14 per cent to $480 billion during April–September.
Delivering the keynote address at the Young Leaders Discourse Forum at Kirori Mal College in New Delhi, Goyal urged young people to embrace ambitious goals and help shape India’s journey towards becoming a developed nation by 2047.
He said India had recorded its highest-ever exports of $863 billion last year. The $1 trillion target represented growth of around 16 per cent, despite an initially subdued outlook for global trade.
Goyal said the International Monetary Fund had projected global trade growth of 1.9 per cent in April–May. India could have opted for a $900 billion export target, representing around 5 per cent growth, but chose a more ambitious goal, he said.
With exports reaching $480 billion in the first six months, the country would need another $520 billion during the remainder of the financial year, he said, adding that October had also been a good month.
Goyal noted that the IMF had subsequently revised its global trade growth projection to around 3.5 per cent and suggested that India’s export performance could have contributed to the revision.
The minister said India had emerged as a trusted global partner, with countries across regions interested in preferential trade agreements and free trade agreements with it.
He attributed the country’s growth prospects to its talent pool, young population, democratic system, leadership and demand for quality goods and services from 140 crore people.
Referring to a recent World Bank report, Goyal said around 50 crore Indians had moved out of extreme poverty and were working to improve their lives.
He also highlighted India’s international assistance during crises, including the supply of vaccines and medicines during the COVID-19 pandemic and relief and rehabilitation support to other countries. Such efforts had strengthened global trust in India, he said.
Addressing students, Goyal described the goal of a developed India by 2047 as non-negotiable. He noted that many of them would be in their forties when the country marked 100 years of Independence and said their choices and contributions would influence its future.
He urged young people to continuously reinvent themselves, adapt to changing circumstances and pursue lifelong learning. Transformation, he said, required changes in how people think, work and live.
Goyal said educational institutions helped develop character, resilience, confidence and a willingness to work hard alongside academic knowledge. He acknowledged teachers’ role in shaping students and said the value of their guidance often became clearer later in life.
Referring to the National Education Policy, he highlighted opportunities for students to change courses, earn academic credits and move between streams.
He also pointed to digital connectivity as an opportunity for learning and engagement, saying India’s 1.1 billion internet users had access to knowledge and experiences from across the world.
The minister concluded by encouraging students to maintain discipline, respect institutional traditions and pursue larger goals with confidence and courage.
(PIB)
