India Well on Track to Achieve 1 Trillion USD Target for Exports this Year, Says Piyush Goyal

India is well on track to meet the 1 trillion USD export target for the current fiscal year, which concludes in March 2027, despite the disruptions caused by geopolitical uncertainties, Union Minister Piyush Goyal stated on Friday. The growth is driven by merchandise and service exports.

“We are well on track to achieve the one trillion dollar target this year with a seven month performance up to October now showing an export of USD 570 billion in seven months,” he stated. Minister Piyush Goyal inaugurated the 45th India International Trade Fair (IITF) 2026 at Bharat Mandapam in New Delhi.

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During the address, he also announced that the government would shortly begin the second stage of expansion for Bharat Mandapam, which will nearly double the exhibition area accessible to exhibitors.

The Union Minister Piyush Goyal was speaking at the inauguration of the India International Trade Fair (IITF). He emphasised that in October 2026, India’s exports reached an all time high of almost 90 billion USD, with around 50 billion in merchandise exports and 40 billion USD in service exports.

He voiced his confidence that November will also experience record collections after the GST collections for October already reached an all time high for the month.