New Delhi: A robust and easy trade finance ecosystem is important for India to achieve the USD 2 trillion exports target by 2030, a senior government official said on Thursday. Additional Director General of Foreign Trade (DGFT), S C Aggarwal said that the easy availability of affordable trade finance helps promote export competitiveness. Traders and the government have to work on issues like obtaining easy finance both for domestic and cross-border trade, he said.
"A robust and easy trade finance ecosystem is very important for moving us to achieve this goal (of USD 2 trillion)," Aggarwal said at an event.
India has set an ambitious target to take its total goods and services exports to USD 2 trillion by 2030.
According to the commerce ministry's data, exports of goods and services in 2022-23 rose by 14.68 percent to USD 775.87 billion as against USD 676.53 billion in 2021-22. He suggested the industry to focus on how to make it easier to get the finance and ways to strengthen this ecosystem.