The new policy has set a target of achieving exports of goods and services worth $2 trillion by 2030. Measured by any yardstick, this is an ambitious goal. The government estimates exports of merchandise goods and services in 2022-23 at $770 billion. Meeting the 2029-30 target of $2 trillion would imply a compound annual growth rate (CAGR) of 14.61 per cent during this seven-year period. In other words, the share of goods and services exports in India’s gross domestic product (GDP) is expected to see a steep increase from 23 per cent in 2022-23 to over 28 per cent in 2029-30, on the as