India Could Cross USD 1 Tn In Exports This Fiscal On Sustained Trade Momentum: CEA Nageswaran

MENAFN- KNN India) New Delhi, Oct 30 (KNN) India is on track to achieve or exceed USD 1 trillion in exports this financial year if the current pace of trade continues, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.

Speaking at the ISID-IDRA Fourth National Conference on Thursday, Nageswaran said,“Trade numbers in the first 6 months of around USD 480 billion. If same pace continues, we are on track to exceed or even achieve USD 1 trillion exports this year,” ANI reported.

He emphasised that achieving this would require strengthening domestic manufacturing capabilities and improving industrial competitiveness amid growing geopolitical tensions and global supply disruptions.

Government Support Must Be Linked to Competitiveness

The CEA noted that India could no longer rely on international markets to provide essential goods as reliably as they did before the pandemic. He called for linking government support to industries' ability to compete in global markets through exports or against import prices.

“We have to insist on quid pro quo from the industry in terms of export compe...