Union Commerce and Industry Minister Piyush Goyal has set a target of $1 trillion in exports for the current financial year. Speaking after the Board of Trade meeting in New Delhi on Friday, he said, “everyone has taken an oath that this year we will do an export of $1 trillion.”
India’s total exports stood at $863 billion in 2025–26, including $442 billion in merchandise exports and $421 billion in services exports. To reach the new target, merchandise exports need to increase to about $530 billion, requiring 16–17% growth, while services exports are expected to grow by around 11% to nearly $470 billion.
During the Board of Trade meeting, Goyal announced a seven-point action agenda for states, Export Promotion Councils, industry bodies, and exporters to boost exports through better Centre-State coordination. He asked states to set up export committees, hold regular meetings with exporters, and review export performance every month.
The minister also urged states to actively participate in the Bharat Audyogik Vikas Yojana (BHAVYA) Industrial Parks Scheme and quickly notify labour rules under the labour codes. The scheme, approved by the Union Cabinet on March 18 with an outlay of ₹33,660 crore, aims to develop 100 investment-ready industrial parks over the next six years.
Goyal also announced a 90-day export drive under the Districts as Export Hubs initiative, covering 120 priority districts across 27 states and Union Territories. He said cross-border e-commerce is the easiest way for first-time exporters to enter global markets and encouraged states to use Dak Ghar Niryat Kendras to help every district become an exporting district.
He added that India recorded 15% growth in merchandise exports and 11% growth in services exports during the April–June quarter, saying the country is on track to achieve its $1 trillion export target.
India Targets Record $1 Trillion Exports in FY27: Piyush Goyal
Kanika Sharma is a Geopolitical Analyst and Editor at BigBreakingWire. She holds a Master's degree in History from the Central University of Punjab, with an academic background in qualitative research, text analysis, and historical frameworks. At BigBreakingWire, she analyzes global trade shifts, international policies, geopolitical developments, semiconductor supply chains, manufacturing policies, and sovereign industrial initiatives. Her work combines historical context with contemporary policy and macroeconomic analysis to explain complex global developments clearly and accurately.
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