Union Commerce Minister Piyush Goyal Sets USD 1 Trillion Export Target
Union Minister of Commerce and Industry Shri Piyush Goyal chaired the Board of Trade meeting in New Delhi, outlining a comprehensive seven-point action agenda to accelerate India's export growth. The Minister set an ambitious target of achieving USD 1 trillion in exports, comprising approximately USD 530 billion in merchandise exports and USD 470 billion in services exports, calling for coordinated action by the Centre, States, industry, and exporters.
Record Export Performance and Current Initiatives
India concluded FY 2025-26 with its highest-ever exports of USD 863 billion, registering growth of 4.6% despite global challenges including tariff realignments, freight disruptions, and slowing demand. Merchandise exports remained resilient at around USD 442 billion, while services exports reached a record level of over USD 421 billion. The Minister announced a time-bound 90-Day Export Drive under the Districts as Export Hubs initiative covering 120 priority districts across 27 States and Union Territories, supported by 24 DGFT Regional Authorities and 11 partner agencies.
Seven-Point Action Agenda for Export Growth
The Minister's action agenda includes: making exports a high-priority agenda item with regular engagements and monthly review meetings; urging States to actively participate in the BHAVYA Industrial Parks Scheme (currently open for first round) and notify labor rules under labor codes; strengthening quality infrastructure with government support for testing facilities; utilizing the Export Promotion Mission with over ₹25,000 crore outlay for MSMEs; encouraging industries to approach DGTR for trade remedy instruments against unfair practices; promoting import substitution to reduce foreign dependence; and actively participating in international exhibitions and trade fairs.
Government Support Architecture and Sectoral Presentations
The Export Promotion Mission, jointly implemented by the Ministries of Commerce, MSME and Finance, features two pillars: NIRYAT PROTSAHAN for trade finance and NIRYAT DISHA for market access, with eleven interventions covering credit, collateral, factoring, warehousing, freight, compliance, trade intelligence and Brand India. The Board reviewed presentations across key pillars including India's Free Trade Agreements (covering markets with over USD 27 trillion GDP), DGTR's new SETU digital platform, Government e-Marketplace (GeM) with procurement crossing ₹5 lakh crore (45% benefiting MSMEs), DPIIT's startup ecosystem comprising over 2.35 lakh startups, BHAVYA Industrial Parks Scheme with ₹33,660 crore outlay for 100 industrial parks, Ministry of Textiles' Vision 2030 targeting USD 100 billion exports, data-centre ecosystem with nearly ₹7 lakh crore announced investments, and electronics manufacturing featuring PLI-driven mobile phone production of approximately ₹6.25 lakh crore presented by Apple India Managing Director Mr. Virat Bhatia.
State Participation and Cross-Border Opportunities
Ministers and representatives from 16 States and Union Territories participated in the meeting, sharing state-specific experiences and best practices. The Minister emphasized that import substitution and export promotion are complementary objectives for Aatmanirbhar Bharat, highlighting cross-border e-commerce as the lowest-barrier entry point for first-time exporters and urging States to leverage Dak Ghar Niryat Kendras. Significant opportunities were identified in container manufacturing and testing certification infrastructure.