India Targets USD 1 Trillion in Exports for FY27
Commerce Minister Piyush Goyal announced a USD 1 trillion export target for the current financial year, citing strong first-half growth and new free trade agreements.
Union Commerce and Industry Minister Piyush Goyal announced that India is targeting USD 1 trillion in exports of goods and services for the current financial year (FY27). Speaking at a Confederation of Indian Industry (CII) event in New Delhi, Goyal expressed confidence in achieving nearly 16 percent export growth, which would significantly outpace the projected global trade expansion of 2.5 to 3 percent. This target follows a record high of USD 863 billion in exports during the 2025-26 period.
Goyal based this projection on strong first-half performance data, noting that combined goods and services exports from April to August reached $82.68 billion, a 25 percent year-on-year increase. He attributed this momentum to a strategy of building bridges through nine finalized free trade agreements (FTAs), which he stated offer significant opportunities for the marine and agriculture sectors.
To ensure these benefits reach smaller businesses, Goyal urged the CII to establish FTA utilization desks or cells across state councils to assist micro, small and medium enterprises with rules of origin and market access. Additionally, he noted that India's economy is expected to maintain growth above 7 percent this year, supported by a Reserve Bank of India upward revision of the GDP growth forecast to 7.1 percent.
