India is targeting a $1 trillion milestone in exports by FY27, leveraging an export promotion mission and new free trade agreements (FTAs). Commerce Secretary Rajesh Agrawal highlighted the government’s focus on surpassing last year’s export growth pace to achieve this ambitious goal. The Export Promotion Mission is set to play a crucial role in supporting exporters, enhancing market access, and facilitating Indian businesses to seize global opportunities.
Agrawal emphasized that the implementation of recent FTAs in the upcoming months is expected to further stimulate outbound shipments. India is well-placed to capitalize on the evolving global supply chain dynamics, with multinational companies diversifying their manufacturing and sourcing operations. Agrawal noted that India is gaining recognition as a reliable partner in the changing global trade landscape.
Commerce and Industry Minister Piyush Goyal urged exporters to explore new trade agreement opportunities, aiming to exceed the $1 trillion export mark by FY27. Despite challenges like geopolitical uncertainties and tariffs, India’s combined goods and services exports reached a record $863.11 billion in FY26. While merchandise exports saw moderate growth, services exports remained a significant driver of overall trade expansion.
Goyal highlighted the need for export growth of around 16-17% to meet the FY27 target. India already has operational FTAs with countries like the United Arab Emirates, Australia, Mauritius, and the European Free Trade Association, with ongoing negotiations for more agreements to expand its global trade presence.
