Commerce and Industry Minister Piyush Goyal on Monday said collective effort is required to achieve the "big" exports target of USD 2 trillion by 2030.

Addressing the annual convocation of IIFT (Indian Institute of Foreign Trade) through video conference, he expressed confidence in achieving the target.

"Let us partner to achieve the export target of USD 2 trillion by 2030, given that we will cross USD 800 billion this (fiscal) year. We will have to really put in a lot of effort collectively to achieve USD 2 trillion. It will not happen by chance, it will happen by choice and I am confident that we can achieve this big target," Goyal said.

In 2023-24, India's exports of goods and services stood at USD 778 billion.

He urged the students and faculty of the institute to contribute to studying the non-tariff barriers being faced by Indian products in other countries so that the officers can flag those.

The ministry also announced that soon the IIFT will have its new campus in Dubai.

Speaking at the event, Commerce Secretary Sunil Barthwal said that IIFT will also set up a centre for negotiations, as this is an important skill set required in areas like free trade agreements.

It will help students learn about the expertise required in the FTA negotiations.

Barthwal said that the institute is also working on preparing India-oriented case studies for students.

Rakesh Mohan Joshi, IIFT Vice Chancellor, said that the ranking of the institute has moved up twelve places to 15th rank under the management category in the NIRF (National Institutional Ranking Framework) ranking 2024.

He added that several big firms are visiting the campus for recruitment.

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