India on Track to Achieve $1 Trillion Export Target, Says Piyush Goyal
India is set to reach a $1 trillion export target this fiscal year, with exports hitting $570 billion in the first seven months.
New Delhi, November 14 (Daily Kiran) : India is poised to achieve its ambitious goal of $1 trillion in exports for the current fiscal year. As of October, exports have surged to $570 billion, marking a significant milestone. This announcement was made by Piyush Goyal, the Minister of Commerce and Industry.
In October 2026 alone, India’s exports reached an all-time high of nearly $90 billion, comprised of about $50 billion in goods and $40 billion in services.
Goyal expressed confidence that international trade would grow by 15-16% this year, even amid global instability and two ongoing wars. He noted that while the overall growth rate of international trade is projected to be sluggish at around 3.5%, India’s performance reflects the strength of its economy and the resilience of its exporters.
Speaking at the inauguration of the 45th India International Trade Fair (IITF) 2026 at Bharat Mandapam, Goyal urged Indian businesses, manufacturers, exporters, artisans, and entrepreneurs to capitalize on the opportunities presented by the country’s free trade agreements (FTAs) and expand their presence in international markets.
He emphasized the importance of seizing opportunities as markets in developed countries open up for Indian goods and services. Goyal also highlighted the collective goal of transforming India into a developed nation by 2047.
The IITF showcases five key aspects of India: its economy, exports, infrastructure development, consumer demand generated by 1.4 billion Indians, and the country’s rich diversity.
This year’s fair features new initiatives, with over 30 states and union territories showcasing their strengths. More than 3,500 exhibitors participated, along with representatives from 11 countries.
The “One District, One Product” pavilion will highlight products from various regions, showcasing India’s strengths in arts, crafts, handlooms, and food products.
The government plans to initiate the next phase of expansion for Bharat Mandapam, nearly doubling the space available for exhibitors. Goyal noted that the success of recent exhibitions, including the IITF, has demonstrated that current facilities are insufficient to meet growing demand.
He also pointed to the robust economic activity seen during the recent festive season, noting that October’s GST collections reached an all-time high. Goyal expressed optimism for record collections in November as well.
