In a major announcement, the Indian government has unveiled plans to become a net exporter by 2026. This marks a significant milestone for the country, which has traditionally been a net importer.
The announcement was made by India’s Minister of Commerce and Industry, Piyush Goyal, who outlined a series of measures aimed at boosting India’s exports. These measures include increasing investment in infrastructure, improving the ease of doing business, and promoting key industries such as pharmaceuticals, textiles, and engineering.
According to the government’s projections, India’s exports are expected to reach $1 trillion by 2026, while imports are expected to remain at around $700 billion. This will result in a trade surplus of around $300 billion, making India a net exporter for the first time in its modern history.
The move has been welcomed by businesses and industry groups, who have long called for the government to take steps to boost exports. Many see it as a sign that India is finally taking its place as a major player in the global economy.
“We are extremely pleased to hear about the government’s plans to make India a net exporter,” said Rakesh Kapoor, CEO of a leading pharmaceutical company. “This is a significant step forward for the country and will help to create jobs and drive economic growth.”
While there are still challenges to be overcome, including a relatively high cost of doing business and a complex regulatory environment, many are optimistic about India’s future as a global exporter.
“With the right policies and investments in place, there is no reason why India cannot become a major player in the global export market,” said Goyal. “We are confident that by 2026, we will be well on our way to achieving this goal.”