India aims to reach $1 trillion in exports by FY27, says Commerce Minister
Commerce Minister Piyush Goyal said India is on track to hit a $1 trillion export target in FY27 despite a slowdown in global trade.
At the opening of the 31st CII Partnership Summit, Commerce Minister Piyush Goyal affirmed that India will meet its $1 trillion export ambition for FY27, even as global trade growth is projected at just 2.5-3%. He pointed to strong first-half export data and the contribution of 63 million MSMEs, global capability centres and about 250,000 startups as the engine behind the push. Goyal noted that nine free-trade agreements signed with 38 developed economies in the last four and a half years give India access to markets representing $60 trillion of global GDP, vastly expanding opportunities for agricultural, marine, engineering and electronic products from small firms.
He also referenced the RBI’s upgraded growth forecast of 7.1% and urged the Confederation of Indian Industry to establish FTA utilisation desks to help MSMEs navigate rules of origin and trade missions. The minister underscored the shift from fearing new technologies to embracing them for job creation and productivity gains.
Why it matters
Reaching a $1 trillion export level would significantly boost India's economy and its role in global trade.
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