- India targets $1 trillion exports this year, says Piyush Goyal
- Government pursuing FTAs with nearly 38 developed countries
- Minister calls for stronger Swadeshi movement and import substitution
- Bharatiya Vyapar Mahotsav to be held from August 12 to 15
GG News Bureau
New Delhi, 18th May: Commerce Minister Piyush Goyal on Monday said India has set a target of achieving exports worth $1 trillion this year and $2 trillion over the next five years, calling it a key milestone towards building an Atmanirbhar Bharat.
Addressing the launch ceremony of the Bharatiya Vyapar Mahotsav website in New Delhi, the minister said India’s exports had already reached $863 billion this year despite global economic challenges.
He said both goods and services exports had recorded growth of nearly 5 per cent over the previous year, describing it as a major achievement in the current global environment.
“This is not merely the government’s target but the nation’s target,” Goyal said while assuring full support from the Centre to industries and businesses.
The Union Minister said India has been working on Free Trade Agreements with nearly 38 developed countries over the last three-and-a-half years to expand preferential access for Indian products in global markets.
According to Goyal, the Oman FTA could come into force from June 1, while other finalised trade agreements awaiting procedural formalities would also become operational soon.
He urged businesses to closely monitor import trends through the Commerce Ministry’s trade portal to identify opportunities for domestic manufacturing and import substitution.
The minister stressed the need to strengthen the spirit of Swadeshi and support Indian-made products to reduce dependence on imports.
Goyal said sectors such as capital goods still relied heavily on foreign imports and called upon industrial clusters in Rajkot, Jalandhar, Ludhiana, Batala and Pune to boost domestic manufacturing capacity.
Highlighting India’s manufacturing progress, he referred to domestically produced medical devices, including CT scan machines manufactured in Visakhapatnam.
The minister also emphasised the importance of improving product quality, packaging and productivity to strengthen India’s competitiveness in global markets.
He noted that India’s agricultural exports had crossed nearly ₹5 lakh crore but added that there was significant scope for value addition in agriculture and fisheries sectors through food processing and manufacturing initiatives led by young entrepreneurs.
Goyal further said the definition of MSMEs had been expanded to include enterprises with turnover up to ₹500 crore, reflecting the government’s push for scaling up Indian businesses.
The Bharatiya Vyapar Mahotsav is scheduled to be held at Bharat Mandapam from August 12 to 15, 2026.
