NEW DELHI, Aug 13: India is targeting $1 trillion in exports this year after recording around 15 per cent growth in overseas shipments during the first four months of the current financial year, Union Commerce and Industry Minister Piyush Goyal said on Wednesday.
Speaking at the Bharatiya Vyapar Mahotsav 2026 organised by the India Trade Promotion Organisation and the Confederation of All India Traders, Goyal said the country recorded exports worth $863 billion last year, comprising $442 billion in merchandise shipments and $421 billion in services.
He said exports have increased by around 73 per cent over the past six years, reflecting India’s expanding presence in international markets.
Goyal said the next phase of growth would require Indian businesses to expand their scale, improve competitiveness and gain wider access to overseas markets. He emphasised the need for greater participation from manufacturers, micro, small and medium enterprises, farmers, fishermen and the services sector.
The minister also highlighted India’s trade agreements, saying nine free trade agreements signed over the past four years cover economies with a combined GDP of around $60 trillion and provide preferential access to markets representing nearly $25 trillion in international trade.
He urged businesses to adopt digital operations, better manufacturing standards and fair trading practices while strengthening sustainability, recycling and reuse.
Goyal said India should move beyond simply promoting the “Made in India” label and build global confidence in the quality, design and branding of Indian products.
He added that achieving the export milestone would be significant amid global economic uncertainty and ongoing geopolitical conflicts.
