India sees 15% export growth in first four months, targets USD 1 trillion this year: Piyush Goyal

New Delhi [India], August 12 (ANI): 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 recorded 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.
"When people in India use goods made in India, it will create new opportunities. When Indians start going to the markets of the world, we will increase production and business on a larger scale and take advantage of economies of scale," Goyal said.
He also called on businesses to improve their practices as India expands its global presence.
"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.
Goyal said India should move beyond simply promoting the "Made in India" label and build global trust around Indian products.
"Together, we will make India not just a label, but the quality of India, the design ability of India, the brand of India," he said.
Goyal also said India's economy, which he described as a USD 4 trillion economy, could reach at least USD 30 trillion by 2047, with higher production and exports creating new employment opportunities. (ANI)