India aims for trillion-dollar exports under Viksit Bharat 2047 vision
New Delhi: India is poised to emerge as a global hub for automobile manufacturing as international carmakers increasingly expand production in the country, Union Commerce and Industry Minister Piyush Goyal said on Monday.
Addressing the ‘Dilli Dialogue: Policies for a Future-Ready India’ here, he said rising domestic demand, a growing manufacturing ecosystem and the country’s economic ambitions under the Viksit Bharat 2047 vision would position India as a key global production base for the automobile industry.
“We want to be a part of the global marketplace. Providing opportunities for people, providing opportunities for jobs, for our startups, for our youth to come up with newer ideas,” Goyal said.
Goyal said India was pursuing a twin-track strategy of integrating with the world’s best technologies while identifying sectors with strong potential for employment generation and business growth.
Highlighting the country’s trade strategy, the minister said India was actively expanding its access to international markets through free trade agreements (FTAs).
According to him, these agreements offer significant opportunities for Indian businesses across sectors such as textiles, footwear, agriculture and food processing, while also enabling access to advanced technologies and high-quality products from developed economies.
Emphasising India’s approach to globalisation, Goyal said the country was not shutting itself off from the world but was opening its doors wider to international partnerships and investments.
The minister also reiterated India’s ambitious economic and export goals, expressing confidence that the country could achieve a trillion-dollar export target as it works towards becoming a developed nation by 2047.
He said a detailed roadmap had been prepared to identify sectors that would drive growth over the coming decades.
Referring to India’s population of 1.4 billion, Goyal said growing demand for goods and services presented substantial opportunities for both domestic industry and global investors.
Rising demand for electronics and white goods, he noted, could accelerate investments in domestic manufacturing and semiconductor facilities.
On the automobile sector, Goyal said several global manufacturers would increasingly choose India as a production base once market demand reached the necessary scale.