India Aims for Historic $1 Trillion Exports Amid Global Challenges
Commerce and Industry Minister Piyush Goyal has set an ambitious target to achieve $1 trillion in goods and services exports this fiscal year. In 2025-26, exports hit $863.11 billion despite global challenges. Efforts include leveraging Free Trade Agreements to boost India's market presence globally.
In a bold move to strengthen India's economic standing, Commerce and Industry Minister Piyush Goyal has announced a target of $1 trillion in exports for the current fiscal year. This comes as the nation contends with global economic uncertainties including high tariffs and geopolitical tensions. Last fiscal year, India achieved an all-time high in exports, reaching $863.11 billion.
The initiative is driven by significant growth in both merchandise and services exports, with merchandise reaching $441.78 billion and services climbing to $421.32 billion in 2025-26. Goyal emphasized the importance of increasing export figures by $137 billion, a leap requiring a robust 16-17% growth rate.
To facilitate this expansion, India has secured nine Free Trade Agreements (FTAs) since 2021 with countries like the UAE, Australia, and the European Union. The government is actively negotiating additional deals to further open markets for Indian products and services. The aim is to utilize these FTAs to their full potential by raising awareness amongst businesses, particularly small and micro-enterprises.
(With inputs from agencies.)
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