India Targets 1 Trillion USD Exports in FY27; Merchandise Exports By 17 Percent, Says Piyush Goyal

India targets 1 trillion USD in exports by FY27 as stated by Union Minister Piyush Goyal and also aims for a 17% growth in merchandise exports. Union Commerce and Industry Minister Piyush Goyal on Friday presided over a fruitful Board of Trade meeting with leaders of Industry, trade associations, States, Union Territories and senior officials, during which they had comprehensive discussions about bolstering India’s export momentum and manufacturing environment.

As reported by ANI, Goyal addressed the audience, expressing his strong confidence in India’s export potential and predicting that merchandise exports would increase by 17% and services exports by approximately 11% this year, roughly 530 billion USD and services exports by 470 billion USD respectively.

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He mentioned that exports had already increased by around 15% in the first quarter, according to data from June and that the government was still committed to reaching the one trillion dollar export target this year (2026-27). He credited this momentum partly to Free Trade Agreements (FTAs), which India has signed with numerous countries, that opened access to markets in 38 developed countries.

Goyal stated that the objective would necessitate a significant rise in both goods and services deliveries during his presentation at the Board of Trade meeting at Vanijya Bhawan in New Delhi.