Archive · 8 Oct 2026
Goyal Says India Can Reach $1 Trillion Export Target
India sold goods and services worth $863 billion to other countries in FY26.
It wants to reach $1 trillion in exports this fiscal year, which would require nearly 16% growth.
Commerce Minister Piyush Goyal said businesses across India are part of the effort.
These include millions of small businesses and many startups.
The goal is ambitious because world trade is expected to grow much more slowly.
Goyal said India’s central bank expects the Indian economy to grow by more than 7%.
He also wants industry groups to help companies make better use of free trade agreements.
He said trade, technology and reforms can support India’s goal of becoming a developed nation by 2047.
India exported $863 billion in FY26 and is targeting $1 trillion in exports this fiscal year, requiring nearly 16% growth.
Commerce Minister Piyush Goyal said the goal is backed by businesses including 63 million MSMEs and around 250,000 startups.
The target comes as global trade growth is expected to be about 2.5% to 3%; Goyal cited RBI projections of more than 7% growth for India.
Goyal urged the Confederation of Indian Industry to establish FTA utilization desks to help businesses, especially MSMEs, use trade agreements.
He linked trade, technology, investment and reforms to India’s ambition of becoming a developed nation by 2047.
- Who
- Commerce and Industry Minister Piyush Goyal, discussing India’s export target.
- What
- India is aiming for $1 trillion in exports this fiscal year, after recording $863 billion in FY26.
- When
- Goyal made the remarks on Thursday; the target is for the current fiscal year.
- Where
- At the curtain raiser for the 31st CII Partnership Summit in New Delhi.
- Why
- Goyal presented the target as part of expanding India’s global trade and supporting its ambition to become a developed nation by 2047.
Target’s Challenges
Government’s Case for Confidence
Achieving rapid export growth
Target’s Challenges
The target requires nearly 16% growth while global trade is expected to expand by only about 2.5% to 3%, against a fragile global economic backdrop.
Government’s Case for Confidence
Goyal expressed confidence that India can meet the target, citing the participation of businesses across the economy and India’s growth outlook.
- Exports in FY26
- $863 billion
- Export target
- $1 trillion this fiscal year
- Growth needed
- Nearly 16%, according to Goyal
- Expected global trade growth
- About 2.5% to 3%
- India growth outlook
- More than 7%, citing the RBI’s latest projections
- Businesses cited
- 63 million MSMEs and around 250,000 startups
- CII Partnership Summit
- Scheduled for November 12–13 in Visakhapatnam
- Developed-nation ambition
- 2047
