India Targets 10 Percent Global Export Share by 2047

The Government of India aims to increase its share of global merchandise exports from approximately 1.8 percent in 2024 to 10 percent by 2047. This target is part of the Viksit Bharat vision to sustain long-term growth, a goal detailed during the eighth review of India's trade policies and practices held in Geneva starting July 21, 2026.

Commerce Secretary Rajesh Agrawal led the Indian delegation, reporting that exports reached a record $863.1 billion in 2025-26 and highlighting an average annual GDP growth of nearly 8 percent between 2021 and 2025. To support these targets, India has streamlined industrial tariffs in the 2025-2026 Budget by removing the highest customs duty rates of 100, 125, and 150 percent.

The World Trade Organization Secretariat urged India to address structural challenges, including high trade costs and regulatory complexity, noting that India still relies on high tariffs and import-export controls. In response, India cited geopolitical tensions and non-tariff barriers used by trading partners as constraints on market access. India also asserted that WTO reforms must be member-driven, consensus-based, and development-centered, while reiterating its opposition to joint statement initiatives.