India has identified electronics, engineering goods, textiles, marine & agriculture, toys and pharmaceuticals as the six sectors that could help the country achieve almost 70% of its $1-trillion goods export target by FY30.

As per a study by the commerce and industry ministry, these sectors could clock around $670 billion of exports by 2029-30. India’s goods exports in FY23 were $451.07 billion. “While toys may not be as large an export sector like engineering or electronics, they have seen remarkable growth,” said a government official.

Led by drones, solar modules, turbo jets, auto and auto-components, electric vehicles and parts, engineering goods exports are expected to grow to $300 billion by FY30 from $107 billion in FY23, while pharma exports, focused on biosimilars and innovation drugs, could rise to $57 billion from $25 billion in the same period.

The outbound shipments of electronics are expected to touch $100 billion by FY30, propelled by mobile phones, laptops, wearable electronics and electronic accessories. Led by readymade garments, technical and man-made fibre textiles, the total textile exports are expected to reach $97.7 billion in the next six years, whereas marine and agriculture product exports are estimated at $118 billion by FY30. Officials said untapped areas in Odisha, West Bengal, Gujarat and Tamil Nadu are being looked at for area expansion under aquaculture.

https://m.economictimes.com/news/economy/foreign-trade/electronics-engineering-goods-among-six-focus-sectors-for-1-trillion-exports-target/amp_articleshow/107210108.cms