'USD 1 trillion goods export can be achieved before time if it grows 18%'

India could achieve the target of USD 1 trillion in merchandise exports a year in advance than it intends to, according to a PwC India report.

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The government has set an ambitious target of achieving USD 1 trillion in merchandise exports by 2029-30.

“...ironing out of geopolitical conflicts and India taking actions along a strategic pathway, this (export) target could perhaps be achieved one year in advance,” the multinational professional services company said in a report.

Explaining how India could achieve that target, the PwC report said it considered an annual export growth rate of 18 per cent.

“The other two scenarios, business as usual and conservative, consider an annual export growth rate of 14.5 per cent and 10 per cent respectively, to achieve the USD 1 trillion exports mark by 2030-31 and 2032-33 respectively.”