India's Manufacturing Key to USD 2 Trillion Export Goal by 2030 | EXIM Bank

New Delhi, Feb 7 (PTI) The manufacturing sector has to play a "very significant role" to realise India's aim to clock USD 2 trillion worth of goods and services exports by 2030, Deputy Managing Director of EXIM Bank Tarun Sharma said on Friday.

Referring to the proposed changes in the classification criteria for micro, small and medium enterprises (MSMEs) announced in last week's Budget, he said India is still a "long way away" when we compare it to advanced nations.

Speaking at an International Trade Conclave organised by the Bengal Chamber of Commerce and Industry here, Sharma outlined the USD 2-trillion target for goods and services exports in the next five years.

He stressed that the domestic manufacturing sector has to play a very significant role if we need to realise the USD 2 trillion target for goods and services.

Sharma also observed that India's textile sector, which is the largest employment creator after agriculture, has not grown at the pace it should have, and called upon Indian companies to invest more in capital expenditure to realise the sector's full potential and existing opportunities.