India Sets Ambitious Export Goals, Targets $2 Trillion in Five Years
Union Commerce and Industry Minister Piyush Goyal on Sunday said India has set an ambitious target of achieving $1 trillion in exports this year and scaling it to $2 trillion over the next five years, describing it as a key milestone towards building an “Atmanirbhar Bharat.”
Speaking at the launch of the Bharatiya Vyapar Mahotsav website in New Delhi, the minister said India’s exports have already reached nearly $863 billion this year, marking an increase of around five per cent despite ongoing global economic challenges. He noted that both goods and services exports have registered growth, reflecting the resilience of the Indian economy.
Shri Goyal said the export target is not merely a government objective but a “national mission,” adding that the Centre is ready to extend all possible support to industries and exporters. He highlighted that India has been actively pursuing Free Trade Agreements (FTAs) with nearly 38 developed countries over the last three-and-a-half years to provide Indian products easier and preferential access to global markets.
The minister also urged businesses to closely monitor import trends and identify opportunities for domestic manufacturing and import substitution. He stressed that growing domestic consumption and the expansion of India’s middle class present major opportunities for Indian industries, MSMEs, startups and entrepreneurs.
Calling for stronger support for “Swadeshi” products, Shri Goyal warned that excessive dependence on foreign goods could weaken domestic industries. He said sectors such as capital goods still rely heavily on imports and encouraged industrial hubs including Rajkot, Ludhiana, Pune and Jalandhar to expand indigenous manufacturing capabilities.
Highlighting India’s progress in manufacturing, the Union Minister pointed to the growing production of medical devices in the country, including CT scan machines being manufactured in Visakhapatnam. He added that improving product quality, packaging and productivity would be crucial for India to strengthen its position in global markets.
Shri Goyal further said India’s agriculture and fisheries exports have crossed nearly ₹5 lakh crore, though he noted that value addition in these sectors remains limited. He encouraged young entrepreneurs and startups to invest in processing and manufacturing units to enhance export potential.
The minister also announced that the Bharatiya Vyapar Mahotsav will be held from August 12 to August 15, 2026, at Bharat Mandapam in New Delhi, and called for greater participation from industries, women entrepreneurs, startups and youth across the country.
Courtesy: PIB India
