Union Commerce and Industry Minister Piyush Goyal stated on Friday that India is on track to meet its ambitious USD 1 trillion export target for the current fiscal year, with approximately 15% of the yearly export goal already achieved in the first quarter.
Export Target Breakdown and Q1 Performance
Speaking at the Board of Trade meeting in New Delhi, Goyal outlined the required growth: services exports must increase from about USD 421 billion to approximately USD 470 billion, while goods exports need to rise from roughly USD 440 billion to about USD 530 billion. He noted that the first quarter is expected to see a 15% increase in product exports and a 10–11% rise in services exports.
Inclusive Export Strategy and District-Level Focus
Goyal emphasized that India’s export strategy is being built around a stronger, more inclusive approach, where every state, district, and industry area is recognized as equally significant. The government is working to ensure that all industries—micro, small, medium, and large—benefit from the country’s export drive.
He announced plans to extend the export base beyond conventional hubs by making every district an export centre. To support this, qualified nodal officers will be assigned to districts to help local companies, especially MSMEs, with export opportunities, documentation, and market access. These officers will undergo four to six months of training in Delhi and will be equipped with data and support tools.
Ease of Doing Business and Free Trade Agreements
The minister stressed that the government is streamlining processes, reducing compliance burdens, and enhancing the ease of doing business to promote the export ecosystem. He urged exporters to fully utilize recently implemented Free Trade Agreements (FTAs) with countries such as Oman, Switzerland, the United Arab Emirates, and the United Kingdom. He also highlighted the role of the export promotion mission in assisting businesses with branding overseas, setting up warehouses, and participating in exhibitions abroad.
Goyal concluded that while India is increasingly viewed as a safe and attractive partner for international trade, reaching the next stage of expansion will require outreach, scale, quality, and cooperation from both the government and the private sector.
