India is aiming to achieve $1 trillion in exports during the current financial year, according to Commerce and Industry Minister Piyush Goyal. The announcement comes on the back of data showing a modest rise in merchandise exports and a strong performance in services exports.
Export Data Highlights
According to the Commerce and Industry Ministry, India's merchandise exports increased by 0.93% to reach $441.78 billion in the fiscal year 2025-26. While this growth was modest, the robust performance of services exports contributed to a nearly 5% jump in overall export numbers. The services sector has been a key driver, offsetting slower growth in goods trade.
Government's Vision
Minister Goyal expressed confidence that the country is on track to hit the ambitious $1 trillion export target. He emphasized the government's focus on boosting trade through policy reforms, infrastructure development, and enhanced market access. The target includes both merchandise and services exports, with a significant push in sectors like IT, pharmaceuticals, and engineering goods.
The government has been implementing various measures to support exporters, including production-linked incentives, trade agreements, and easier access to credit. Goyal urged industry stakeholders to collaborate and capitalize on global opportunities.
This target aligns with India's broader economic goals of becoming a $5 trillion economy and increasing its share in global trade. The minister highlighted that achieving $1 trillion in exports would be a landmark achievement, reflecting India's growing competitiveness on the world stage.
