India’s commerce minister Piyush Goyal says the country is targeting $1 trillion in total exports for the current fiscal year (FY26). Speaking at meetings and to reporters, he links the goal to growth across both merchandise and services. Multiple reports cite Goyal’s view that services exports should grow at around 11% to reach roughly $470 billion by 2026-27. To support the overall $1 trillion target, Goyal says merchandise exports would need to rise from about $442 billion to roughly $530 billion. One report adds that if merchandise exports keep growing, they could cross $500 billion in FY27. Another outlet reports Goyal expects merchandise (goods) exports to grow about 16–17% and services exports about 10–11%, bringing overall exports close to the target. The plans discussed include efforts associated with free trade agreements and a seven-point action plan, with additional emphasis on increasing defence exports. Industry and policymakers are described as supportive of the initiative in the reporting.
Piyush Goyal sets $1 trillion export target for India in FY26
India’s commerce minister Piyush Goyal says the country is targeting $1 trillion in total exports for the current fiscal year (FY26). Speaking at meetings and to reporters, he links the goal to growth...
- Piyush Goyal announces an India target of $1 trillion total exports for the current fiscal year (FY26).
- Goyal says services exports are expected to grow about 11% to around $470 billion by 2026-27.
- He says goods exports would need to rise from roughly $442 billion to about $530 billion to help reach the overall target.
- Goyal projects merchandise exports could grow about 16–17% and services exports about 10–11% to get close to $1 trillion.
- Reports cite support measures including free trade agreements, a seven-point action plan, and focus on defence exports.
Commerce Minister Piyush Goyal expects merchandise exports to grow 16-17 per cent and services exports 10-11 per cent, taking India's total exports close to the $1 trillion target
1 month agoGoyal said that the target for the services sector is 11 per cent growth to about $470 billion in 2026-27. “We want to grow to $1 trillion export this year. And to reach $1 trillion, our goods exports will have to increase from $ 442 billion to about $530 billion,” he told the reporters
1 month agoIndia aims for a monumental $1 trillion in exports this fiscal year, a goal enthusiastically embraced by industry and policymakers. Union Minister Piyush Goyal confirmed the ambitious target, highlighting strong growth in both merchandise and services sectors. Recent free trade agreements and a seven-point action plan are set to bolster this drive, with a significant push in defence exports also noted.
1 month agoSpeaking at the Board of Trade meeting at Vanijya Bhawan in New Delhi, Goyal said the target would require a sharp increase in both goods and services shipments
1 month ago
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