Archive · 24 Aug 2026
Global Uncertainty Threatens India’s $1 Trillion Export Target
India wants to sell $1 trillion worth of goods and services to other countries.
A senior government policy official said this goal may be difficult to reach on time.
He said trade conflicts and problems around the world are making exports harder.
Higher prices for oil, gas and fertiliser are also creating pressure.
India sells many exports from a small number of industries and states.
The official said India should sell more kinds of products and reach more markets.
He also said stronger exports could help India improve technology and attract investment.
Separately, Bandhan Bank opened its 2,000th branch and launched a simpler mobile banking app.
NITI Aayog Vice-Chairman Ashok Kumar Lahiri said India may miss its $1 trillion exports target for 2026-27.
He attributed the risk to global uncertainty, geopolitical tensions and tariff wars.
Lahiri urged India to diversify its export products, states of origin and overseas markets.
India’s combined merchandise and services trade deficit rose 31.5% year-on-year in July to slightly above $15 billion.
Bandhan Bank opened its 2,000th branch in Chennai, taking its nationwide banking outlets to 6,400.
- Who
- Ashok Kumar Lahiri, Vice-Chairman of NITI Aayog, discussed India’s export outlook; Commerce and Industry Minister Piyush Goyal had previously stated the $1 trillion target.
- What
- India may miss its target of $1 trillion in combined goods and services exports for 2026-27, according to Lahiri.
- When
- Lahiri made the comments on Sunday evening; the article was published on August 24, 2026.
- Where
- He spoke at a Bandhan Bank event in Kolkata. Bandhan Bank opened its 2,000th branch in Chennai’s Egmore.
- Why
- Global uncertainty, geopolitical risks and tariff wars have affected exports and increased trade pressures.
Cautious Outlook
Export Ambition
Timing of the $1 trillion goal
Cautious Outlook
Ashok Kumar Lahiri said global uncertainties and tariff wars could cause India to miss the 2026-27 target, which he said has been moved to 2027-28.
Export Ambition
Piyush Goyal said in May that India had set a target of $1 trillion in exports and a further $2 trillion over the following five years.
India’s export structure
Cautious Outlook
Lahiri said exports are concentrated in a small number of product categories and that five states generate nearly 70% of shipments, creating a need for diversification.
Export Ambition
The government’s export targets reflect an expectation that India can expand shipments and integrate further with global value chains.
Economic conditions
Cautious Outlook
Geopolitical tensions, tariff disputes, wider trade deficits and higher oil, gas and fertiliser prices are creating difficult conditions.
Export Ambition
Lahiri also said the Indian economy has held up well, reforms have continued and the current crisis could provide an opportunity to improve the economy and its systems.
- Export target
- $1 trillion in combined goods and services exports for 2026-27.
- Possible revised timeline
- Lahiri said the target has been rolled forward to 2027-28.
- Main export categories
- Engineering goods, refined petroleum, electronics, gems and jewellery, and pharmaceuticals.
- Leading exporting states
- Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh account for nearly 70% of total shipments.
- July trade deficit
- The combined merchandise and services deficit rose 31.5% year-on-year to slightly above $15 billion.
- Bandhan Bank network
- The bank now has 6,400 banking outlets after opening its 2,000th branch.
- New banking application
- Bandhan Bank launched mBandhan Lite for microfinance customers.