New Delhi: Union Commerce and Industry Minister Piyush Goyal said India has set a target of achieving $1 trillion exports this year and $2 trillion exports over the next five years. He described the goal as a major step towards building an Atmanirbhar Bharat.
Addressing the website launch ceremony of the Bharatiya Vyapar Mahotsav in New Delhi, Goyal said India’s exports had reached $863 billion despite global economic challenges. He said both merchandise and services exports recorded steady growth during the year.
The minister said the exports target was not only the government’s objective but also a national mission. He assured businesses that the Centre would provide all necessary support to achieve the target.
Goyal said India had pursued Free Trade Agreements with nearly 38 developed countries during the last three-and-a-half years. He stated that these agreements would provide Indian products preferential market access with lower import duties.
He said the proposed Oman Free Trade Agreement could come into force from June 1. He added that other finalised agreements would also become operational after pending procedures were completed.
$1 trillion exports push focuses on domestic manufacturing
Piyush Goyal urged businesses to study import trends through the Commerce Ministry trade portal and identify opportunities for import substitution. He said domestic industries should reduce dependence on imported goods by expanding local manufacturing.
The minister stressed the need to promote Swadeshi products and support Indian industries. He warned that rising domestic consumption could increase imports if local industries failed to meet demand.
He also called on industrial clusters in Rajkot, Jalandhar, Ludhiana, Batala and Pune to strengthen domestic production in sectors such as capital goods.
Highlighting opportunities in agriculture and fisheries, Goyal said exports from these sectors had crossed nearly ₹5 lakh crore. However, he added that value addition remained low and encouraged young entrepreneurs to establish processing units.
The minister said improving product quality, packaging and productivity was essential for India to compete in global markets. He further urged startups, MSMEs and women entrepreneurs to participate actively in the Bharatiya Vyapar Mahotsav scheduled from August 12 to August 15, 2026.
