Indian Economy News

India Aims for US$ 1 Trillion Exports in FY27 Amid Push for FTAs and Manufacturing Growth, Union Minister Mr. Piyush Goyal

Union Commerce and Industry Minister Mr. Piyush Goyal stated that India is targeting exports worth Rs. 96.30 lakh crore (US$ 1 trillion) in 2026-27 and Rs. 192.60 lakh crore (US$ 2 trillion) over the next five years, describing the milestone as a key indicator of an Atmanirbhar Bharat. Speaking at the website launch ceremony of Bharatiya Vyapar Mahotsav in New Delhi, the Minister highlighted that India’s exports reached Rs. 75.94 lakh crore (US$ 863 billion) in 2025-26, registering nearly 5% growth despite global economic challenges such as geopolitical tensions and tariff-related uncertainties. He emphasised that exports should be treated as a national mission and noted that Free Trade Agreements (FTAs) with nearly 38 developed countries are expected to significantly improve market access for Indian goods and services.

Urged businesses to closely monitor import trends to identify opportunities for import substitution and promote domestic manufacturing under the ‘Swadeshi’ initiative. Further stated that rising domestic consumption presents significant growth opportunities, but Indian industries must strengthen their competitiveness to prevent excessive import dependence. Also, called for greater participation from youth, startups and entrepreneurs in expanding India’s export ecosystem. Further commented that Government is working continuously to improve logistics, trade infrastructure and ease of doing business to support exporters and enhance India’s global trade presence. India’s services exports touched an all-time high of Rs. 37.08 lakh crore (US$ 421.32 billion) in 2025-26, while merchandise exports reached Rs. 38.88 lakh crore (US$ 441.78 billion) during the year.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.