India’s Exports Rise 15% in First Four Months as Government Targets $1 Trillion This Year

India’s exports grew by around 15% during the first four months of the current financial year, Commerce and Industry Minister Piyush Goyal said on August 12, 2026.

The government is now targeting $1 trillion in total exports this year.

Goyal said India achieved record exports of $863 billion last year. This included $442 billion in merchandise exports and $421 billion in services exports.

He made the remarks at the Bharatiya Vyapar Mahotsav 2026, organised by the India Trade Promotion Organisation and the Confederation of All India Traders.

Exports Have Risen 73% in Six Years

India’s export performance has strengthened significantly in recent years.

According to Goyal, exports have grown by around 73% over the last six years.

Moving from $863 billion to $1 trillion would require another major increase. Goyal acknowledged that the target is ambitious amid global economic uncertainty and continuing geopolitical conflicts.

However, he said the strong growth recorded during the first four months provides confidence.

“I see around 15 per cent growth in these four months,” the minister said.

The expansion indicates that Indian goods and services are gaining a stronger position in global markets.

Nine FTAs Expand India’s Market Access

Goyal also highlighted India’s growing network of free trade agreements.

India has signed nine FTAs during the last four years, according to the minister.

These agreements cover economies with a combined GDP of around $60 trillion.

They also provide preferential access to markets representing approximately $25 trillion in international trade.

Greater market access can help Indian exporters compete in larger economies and diversify beyond traditional destinations.

MSMEs, Farmers and Services Key to $1 Trillion Goal

Reaching the $1 trillion target will require participation across the economy.

Goyal called on manufacturers, MSMEs, farmers, fishermen and service-sector businesses to increase their engagement with international markets.

He said Indian businesses should think beyond limited domestic markets and actively pursue overseas customers.

For smaller companies, greater exports could also create new opportunities for expansion and investment.

Quality and Innovation to Strengthen Make in India

The minister stressed that Indian businesses must compete on more than price.

He called for greater attention to quality, design and innovation under the Make in India initiative.

Higher production volumes can also improve competitiveness by creating economies of scale.

Goyal said stronger consumer support for Indian products could increase domestic production. Larger production volumes could then help Indian companies compete more effectively abroad.

Businesses Urged to Accelerate Digitisation

Digital adoption will also play an important role in improving productivity.

Goyal urged traders and entrepreneurs to digitise their operations and adopt good manufacturing practices.

He also called for fair trading practices across the business community.

Digital systems can help companies improve efficiency, manage inventory and reach customers across wider markets.

Sustainability Becomes Part of Export Competitiveness

The minister also placed sustainability at the centre of India’s future business strategy.

He encouraged companies to focus on recycling, reuse and circular economy practices.

Global markets increasingly demand cleaner production and sustainable supply chains. Indian companies that adopt these practices could gain an advantage in international markets.

India Eyes Next Export Milestone

India’s $1 trillion export target reflects the government’s ambition to expand the country’s role in global trade.

The strong performance during the first four months provides an encouraging start.

However, reaching the target will require sustained growth in both merchandise and services exports.

Greater manufacturing scale, wider FTA access and stronger MSME participation could support that expansion.

For Indian businesses, the next stage will depend on improving quality, innovation and productivity while competing aggressively in global markets.

If the momentum continues, the $1 trillion milestone would mark another major step in India’s emergence as a larger global trading economy.

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Source: Remarks by Union Commerce and Industry Minister Piyush Goyal at Bharatiya Vyapar Mahotsav 2026, August 12, 2026.

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