India Targets Trillion-Dollar Exports Under Viksit Bharat Vision

India targets trillion-dollar exports under its Viksit Bharat 2047 vision, with Piyush Goyal highlighting automobile manufacturing, free trade agreements, foreign investment and domestic demand as key growth drivers.

India is aiming to achieve trillion-dollar exports as part of its ambition to become a developed nation by 2047, Union Commerce and Industry Minister Piyush Goyal said on today. Speaking at the ‘Dilli Dialogue: Policies for a Future-Ready India’ in New Delhi, Goyal highlighted manufacturing growth, international trade partnerships and investment as key drivers of the country’s economic transformation.

Goyal said India is positioned to emerge as a global automobile manufacturing hub, supported by rising domestic demand, an expanding industrial ecosystem and increasing interest from international vehicle manufacturers. He noted that as the domestic market grows, global companies could increasingly view India as a strategic base for manufacturing and supplying vehicles to international markets.

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The minister outlined India’s approach of combining access to advanced global technologies with the development of industries capable of generating employment and supporting business expansion. The strategy aims to create opportunities for startups, young entrepreneurs and the wider workforce while strengthening the country’s industrial capabilities.

Expanding international market access remains another priority. Goyal highlighted the role of free trade agreements (FTAs) in opening new opportunities for Indian businesses across sectors, including textiles, footwear, agriculture and food processing. These agreements can help exporters access overseas markets while enabling Indian industries to benefit from advanced technologies and high-quality products from developed economies.

He stressed that India intends to deepen its engagement with global markets rather than isolate itself from international trade and investment. Greater collaboration with foreign businesses, he said, can support industrial development, improve competitiveness and create opportunities for domestic enterprises.

Goyal also pointed to India’s population of approximately 1.4 billion as a significant source of demand for goods and services. This expanding market presents opportunities for domestic manufacturers and international investors seeking to establish or expand operations in the country.

Rising demand for electronics and consumer appliances, including white goods, could encourage further investment in domestic production facilities and semiconductor manufacturing. Strengthening these industries would support the broader objective of increasing local manufacturing capacity and integrating Indian businesses into global supply chains.

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The minister said the government had prepared a roadmap identifying sectors expected to drive economic growth over the coming decades. Under the Viksit Bharat 2047 vision, India seeks to combine manufacturing expansion, export growth, technological advancement and international partnerships to strengthen its position in the global economy.