India needs infra to handle $2.5-trn merchandise trade

New Delhi: A study to assess required infrastructure and identify main industry clusters for achieving the $1 trillion merchandise exports target by 2030 may be submitted by August-September to the Commerce Ministry, an official said.The official said that the Asian Development Bank (ADB) is doing that study for the ministry. In 2023-24, India’s merchandise exports dipped by over three per cent to $437 billion.

Imports during the last fiscal dipped by 5.7 per cent to $675.4 billion. By 2030, the ministry is aiming to more than double the country’s outbound shipments of goods. Explaining the rationale behind the exercise, the official said that to take the exports to $1 trillion, there will be an import of about $1.5 trillion, so to handle $2.5 trillion worth of trade we need additional infrastructure and logistics capacity at roads, ports, airports and railways.