Goyal urges industry to raise quality standards to achieve $2 trillion export target – CNBC TV18

Commerce and Industry Minister Piyush Goyal has urged industry to seek support under the Export Promotion Mission to meet international approvals and compliance requirements, including REACH regulations, carbon border adjustment mechanism verification, SPS and TBT measures, and other non-tariff barriers.

Virtually addressing the first National Quality Conclave in New Delhi, he called for a five-pillar action agenda to institutionalise quality. The agenda includes implementing standard operating procedures with strict compliance; skilling and re-skilling the workforce to reduce wastage and improve productivity, particularly in sectors such as textiles; conducting gap analyses to enhance competitiveness; streamlining testing and certification processes to cut delays and costs; and strengthening shared infrastructure through modern, automated testing facilities across manufacturing clusters.

Stating that India’s $2 trillion export target — comprising $1 trillion each in merchandise and services over the next six to seven years — can only be achieved through uncompromising quality standards, the minister said the country’s ambition to become a $30–$35 trillion economy by 2047 rests on three pillars: zero defect (quality), zero effect (sustainability), and equitable opportunity (inclusivity).

Highlighting access to markets accounting for nearly two-thirds of global GDP through nine free trade agreements signed with 38 developed economies over the past four years, he said these pacts have opened new export opportunities in sectors such as textiles, leather, footwear and pharmaceuticals. However, he noted that India’s share in global trade remains modest, even in competitive and labour-intensive sectors.

Later in the day, Goyal met Cambodia’s Commerce Minister Nimul Cham and Tajikistan’s Minister of Industry and New Technologies Sherali Kabir to explore ways to strengthen trade and investment ties and diversify cooperation in sectors such as textiles, IT, pharmaceuticals, food processing, critical minerals and tourism. He also met Richard Heald, Chair of the UK India Business Council, to discuss new opportunities arising from the operationalisation of the India–UK Comprehensive Economic and Trade Agreement (CETA), including collaboration in the marine industry and seafood exports.