India has recorded around 15 per cent growth in exports in the first four months of the current financial year and is targeting USD 1 trillion in exports this year, Union Commerce and Industry Minister Piyush Goyal said on Wednesday, as he called for greater scale, competitiveness and global market access for Indian businesses.
Speaking at Bharatiya Vyapar Mahotsav 2026 organised by India Trade Promotion Organisation (ITPO) and Confederation of All India Traders (CAIT), Goyal said India registered a record USD 863 billion in exports last year, including USD 442 billion in merchandise exports and USD 421 billion in services exports. Exports have grown around 73 per cent over the last six years, he said.
“Taking 863 to one trillion is a big jump,” Goyal said, adding that achieving the target would be significant amid global uncertainty and ongoing conflicts. He said India’s growth in exports in the first four months of the year was a sign of the country’s growing strength in global markets. “I see around 15 per cent growth in these four months,” he said.
Goyal also highlighted the expansion of India’s trade access through free trade agreements (FTAs). He said nine FTAs signed over the last four years cover economies with a combined GDP of USD 60 trillion and provide India preferential access to international trade worth USD 25 trillion.
He said the country’s export growth would need to be supported by greater participation from manufacturers, MSMEs, farmers, fishermen and the services sector. Goyal called for collective efforts to strengthen the ‘Make in India’ brand by focusing on quality, design and innovation.
He said Indian businesses should move beyond limited domestic markets and take their products and services to global markets.
“Greater participation by Indian consumers in domestic products would help increase production and trade, create economies of scale and make Indian businesses more competitive globally,” he said.
The minister also urged businesses and entrepreneurs to digitise their operations, adopt good manufacturing practices and follow fair trading practices.
“We will all digitise our businesses. We will all adopt good manufacturing practices. We will all adopt fair trading practices,” he said, adding that businesses should also focus on sustainability, recycling, reuse and building a circular economy.
-(with inputs from agencies)
