India Targets $1 Trillion Exports in FY27: Goyal

Synopsis: India targets $1 trillion in exports in FY27, aiming for a 16–17% rise in merchandise shipments and double-digit growth in services through FTAs, market diversification, and stronger export competitiveness.

The Indian government has set an ambitious target of achieving $1 trillion in total exports during FY27, with a strong focus on expanding both merchandise and services exports. Commerce and Industry Minister Piyush Goyal announced the goal at the Board of Trade meeting, highlighting exports as a key driver of economic growth and India's global trade ambitions.

Under the target, the government aims to increase merchandise exports to $530 billion, representing a growth of around 16–17%, while services exports are projected to reach $470 billion, reflecting an expected growth of about 11%. Combined, the two segments are expected to help India cross the $1 trillion milestone for the first time.

India recorded total exports of approximately $863 billion in FY26, comprising $442 billion in merchandise exports and $418 billion in services exports. Building on this performance, the government believes stronger global demand, expanding market access, and improved trade competitiveness can support the next phase of export-led growth.

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A major pillar of the strategy is the expansion of Free Trade Agreements which are expected to provide Indian exporters with preferential access to key international markets. The government has been actively pursuing trade agreements with several developed economies to improve export opportunities across manufacturing and services sectors.

The government is also encouraging exporters to diversify into new markets and strengthen India's presence in high-value sectors such as engineering goods, electronics, pharmaceuticals, textiles, and digital services. Improving logistics, enhancing manufacturing competitiveness, and supporting small and medium enterprises remain key priorities for achieving sustained export growth.

Officials believe that rising global demand, combined with India's growing manufacturing capabilities and expanding services sector, provides a favourable environment to achieve the ambitious export target. Continued policy support and stronger integration with global supply chains are expected to play an important role in reaching the milestone.

The $1 trillion export target reflects India's broader vision of strengthening its position in global trade. By expanding exports across goods and services, the government aims to boost economic growth, create employment, and enhance the country's competitiveness in international markets.