Commerce and industry minister Piyush Goyal stated on Friday that India’s exports rose 15% year-on-year during the opening quarter of fiscal 2027. He expressed optimism that the nation would reach the $1 trillion export mark during the current fiscal period. At a Board of Trade gathering in New Delhi, Goyal noted that hitting the goal would need 17% expansion in goods shipments and 11% growth in services exports. He encouraged companies to move beyond home sales and build stronger positions abroad. India’s overall exports totaled $863 billion in FY26, split between $442 billion in merchandise and $421 billion in services. The government stands ready to help firms set up storage facilities overseas and reach fresh markets. Participating states pledged support for the export target and were urged to give exports higher priority while boosting manufacturing. The Centre offered to cover all expenses for new testing labs in states to meet global standards. The Directorate General of Trade Remedies will keep aiding local sectors against unfair imports and low pricing, and Goyal stressed the need for more import substitution. He highlighted that the India-UK trade pact starts on 15 July, granting entry to a market importing nearly $900 billion annually. Recent Indian trade deals now span about two-thirds of the world economy, with several more pacts due soon. To aid smaller exporters, authorities will prepare 1,000 facilitators for deployment nationwide.
