Union Minister of Commerce and Industry Shri Piyush Goyal announced India's ambitious export target of USD 1 trillion for the current year during the curtain raiser of the 31st CII Partnership Summit in New Delhi. This represents nearly 16% growth from the previous year's USD 863 billion exports, achieved despite international trade growth expectations of only 2.5-3% and global economic vulnerability with growth projected below 3%.
The Minister expressed strong confidence in achieving this target, noting that it is supported by 63 million MSMEs, large and small industries, global capability centers, and approximately 250,000 startups. He highlighted that the Reserve Bank of India has raised its growth projections for the current year, with India expected to maintain over 7% growth and retain its position as the world's fastest-growing large economy.
The 31st CII Partnership Summit will be held in Visakhapatnam on November 12-13, 2026, with participation from Andhra Pradesh Chief Minister Shri Chandrababu Naidu. The event aims to showcase India's growth story through the lenses of growth, opportunity, and partnership, offering various programs, panels, discussions, and networking opportunities.
Minister Goyal emphasized India's strategic approach to Free Trade Agreements, which protect sensitive sectors including agriculture, fisheries, and MSMEs while opening export opportunities for agricultural products, fisheries and marine products, high-precision items, engineering products, and electronic products. These agreements also create investment opportunities for foreign companies in India's growing market.
India's economy, currently at approximately USD 4 trillion, has the potential to reach USD 30 trillion by 2047, driven by a youthful and aspirational population. The Minister highlighted significant digital achievements including the JAM Trinity (Jan Dhan, Aadhaar, Mobile) and Digital India, which have saved over Rs. 5 lakh crore (USD 55 billion) over 12 years.
Technological adoption remains a key focus, with India embracing new-age technologies including AI and quantum computing. Google's first AI hub is coming up in Visakhapatnam, while Amaravati is developing as a quantum valley. The Minister emphasized that technology creates new opportunities rather than job losses, particularly in cybersecurity and emerging technology applications.
Trust was highlighted as a defining element of India's global engagement, with the country meeting all international commitments during COVID-19 disruptions. India has recently received credit rating upgrades from several agencies and is recognized as a trusted global partner.
The government continues to focus on ease of doing business, labor reforms providing social security and better wages, and dialogue between industry and government to meet global standards. The Partnership Summit theme resonates with the five T's: Technology, Trust, Trade, Talent, and Tradition, which define India's growth story.
Andhra Pradesh was described as a "sunrise state" with technology-driven development and governance, showcasing successful collaboration between central and state governments in promoting investments, growth, and welfare.