India Targets $1 Trillion Exports via New Trade Agreements
Commerce Minister Piyush Goyal announced a strategy to gain preferential access to $85 trillion in developed markets to reach $1 trillion in exports by FY27.
Commerce and Industry Minister Piyush Goyal announced that India will secure preferential access to developed markets with a combined GDP of $85 trillion within approximately 18 months. Speaking at the Dilli Dialogue conference in New Delhi, Goyal detailed a strategy to reach $1 trillion in exports by FY27 using a twin track approach that integrates global technology while prioritizing high-growth, AI-proof sectors such as tourism.
Goyal stated that India will protect sensitive domestic sectors during these negotiations, specifically agriculture, fisheries, and micro, small and medium enterprises. He highlighted the protection of the dairy sector in ongoing talks with the United States, Australia, New Zealand, the European Union, and EFTA, while maintaining calibrated automobile import quotas for the European Union and the United Kingdom.
Additionally, the minister noted that trade negotiations with Canada are progressing. These efforts are part of a broader push by the government to diversify supply chains and attract foreign manufacturing investment to the country.
