Union Commerce and Industry Minister Piyush Goyal announced India's ambitious target of achieving USD 1 trillion in exports 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, significantly outpacing the expected global trade growth of only 2.5-3% amid a vulnerable global economy with growth projected below 3%.
Goyal 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 cited the Reserve Bank of India's upgraded growth projections and affirmed that India would continue to grow at over 7%, maintaining its position as the world's fastest-growing large economy.
The Minister highlighted India's strategic approach to Free Trade Agreements, emphasizing that they protect sensitive sectors including agriculture, fisheries, and MSMEs while opening export opportunities for agricultural products, marine products, high-precision items, engineering goods, and electronic products. These agreements also create investment opportunities for foreign companies to participate in India's growth story.
Goyal outlined India's economic vision, projecting growth from the current USD 4 trillion economy to USD 30 trillion by 2047, driven by a youthful and aspirational population. He emphasized technology adoption, citing that Digital India initiatives have resulted in savings of over Rs. 5 lakh crore (USD 55 billion) over the past 12 years. India is embracing new-age technologies including artificial intelligence and quantum computing, moving beyond concerns about job losses to create opportunities in cybersecurity and emerging technology applications.
The Minister highlighted India's reputation as a trusted global partner, noting that during COVID-19 pandemic disruptions, India met all international commitments on time for both merchandise and services exports. This reliability earned India credit rating upgrades and recognition as a trusted partner at the 2022 G20 Summit in Rome.
The 31st CII Partnership Summit will be held in Visakhapatnam on November 12-13, 2026, with Andhra Pradesh Chief Minister Chandrababu Naidu participating. Goyal announced that Google's first AI hub is coming up in Visakhapatnam, while Amaravati is developing as a quantum valley, positioning Andhra Pradesh as a sunrise state through technology-driven development and governance.
Goyal also marked Prime Minister Narendra Modi's 25 years of uninterrupted public service, beginning as Gujarat Chief Minister on October 7, 2001, and continuing as Prime Minister since May 26, 2014. He cited key initiatives including Jyotigram Yojana for electricity access, JAM Trinity (Jan Dhan-Aadhaar-Mobile), GST implementation, and national power grid integration as examples of reform-oriented governance.