India needs a robust and easy trade finance ecosystem to achieve its target of USD 2 trillion in exports by 2030, according to Additional Director General of Foreign Trade (DGFT) S C Aggarwal. At an event in New Delhi, Aggarwal stressed the need for easy and affordable trade finance to promote export competitiveness. The Indian government and traders must work together to resolve issues concerning obtaining domestic and cross-border finance, he said. Data from the commerce ministry showed that exports of goods and services rose 14.68% to USD 775.87 billion in 2022-23, up from USD 676.53 billion the previous year. Aggarwal called on the industry to focus on making finance easier to access and strengthening the trade finance ecosystem.
Why a Strong Trade Finance Ecosystem is Crucial for Achieving USD 2 Trillion Exports Target by 2030: DGFT Official
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