India targeting ambitious 16-17% growth in merchandise exports in FY 27: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that India is targeting an ambitious 16-17 percent growth in merchandise exports to about $530 billion in the current fiscal year (FY27). He said that the services sector is aiming for 11 percent growth to about $470 billion during FY27.
He stated ‘We want to grow to $1 trillion export this year. And to reach $1 trillion, our goods export will have to increase from $442 (billion) to about $530 billion, $90 billion increase. In FY26, the country's total exports were $863 billion ($442 billion in goods and $421 billion in services).
Besides, he advised the industry to strengthen its focus on high-quality manufacturing and explore export markets using the free trade agreements (FTAs) signed by India. He said the industry should not depend only on the vast domestic market. He said industry should get out of the ‘cosy comfort’ and reach out to the world market. He added the commerce ministry's export promotion mission will support the establishment of overseas branding initiatives, warehouses, and participate in global exhibitions.
