“So we can easily aim to double our exports and increase our exports (share) to 10% over a period of time and those opportunities exist even if someone says the world trade scenario looks bleak,” he said. he said here at the CII National Export Summit.
Domestic exporters should not be pessimistic about this scenario, he added.
“India has huge scope not only to scale in global value chain systems but also to have value addition and high value-added contribution in global exports,” Barthwal noted.
World trade growth is expected to slow to 1% in 2023, due to global uncertainties, according to a WTO forecast.
The World Trade Organization (WTO) also predicted 3.5% growth in world trade this year, compared to an estimate of 3% in April.
The secretary also said that global companies are eyeing India as an alternative investment destination.