India Targets One Trillion Dollar Export of
Both Goods and Services Next Year
Ø India Confident of Achieving USD 1 Trillion
Export Target, Sustaining Over 7% Growth
Ø Piyush Goyal Highlights Prime Minister
Narendra Modi’s 25 Years of Uninterrupted Public Service
Ø India’s FTAs Protect Sensitive Sectors
While Opening Export and Investment Opportunities
Ø Andhra Pradesh Emerging as a Sunrise State
Through Technology-Driven Development and Governance
·
Commerce
Minister Piyush Goyal stated
that India chose to "build
bridges when the world was building walls," emphasizing India's
proactive global engagement strategy.
·
India achieved
USD 863 billion in exports
last year and is targeting USD
1 trillion in exports in the current year.
·
The Minister
expressed confidence that India can achieve this target despite global trade growth
being projected at only 2.5-3%.
·
India is
expected to maintain over 7%
economic growth, continuing as the world's fastest-growing large
economy.
·
Speaking
at the curtain raiser for the 31st
CII Partnership Summit, Goyal invited countries to participate in
the summit scheduled in Visakhapatnam
on 12-13 November 2026.
·
He urged
CII to establish FTA Utilisation
Desks across states to help MSMEs:
o Use
Free Trade Agreements effectively.
o Access
new markets.
o Understand
rules of origin.
o Expand
exports globally.
·
Goyal highlighted 25 years of uninterrupted public service
by Prime Minister Narendra Modi, from Gujarat Chief Minister (2001) to Prime Minister.
·
He credited reforms such as:
o Digital
India
o JAM
Trinity (Jan Dhan-Aadhaar-Mobile)
o GST
o National
power grid integration for transforming governance and economic efficiency.
·
India has shifted from a defensive approach
to a more confident global engagement model.
·
According to Goyal, India's Free Trade Agreements:
o Protect
agriculture, fishermen, and MSMEs.
o Expand
opportunities for exports of agricultural, engineering, electronics, and marine
products.
o Encourage
foreign investment into India.
·
India is embracing emerging technologies
including:
o Artificial
Intelligence (AI)
o Quantum
Computing
o Cybersecurity
o Advanced
digital technologies
·
The Minister said technology should be viewed
as a creator of opportunities rather than a threat to jobs.
·
India's economy, currently around USD 4 trillion, has the potential
to grow to USD 30 trillion
by 2047, according to Goyal.
·
Growth will be driven by:
o Technology
o Talent
o Trade
o Trust
o Tradition
(the "5 Ts")
·
Goyal emphasized that India honored all international commitments during the COVID-19 pandemic.
·
He said India's reliability has strengthened
its reputation as a trusted
global partner.
·
Goyal praised Andhra Pradesh as a "Sunrise State"
driven by technology and innovation.
·
Key developments highlighted:
o Google's
first AI Hub coming up in Visakhapatnam.
o Amaravati
emerging as a Quantum Valley.
o Strong
focus on ease of doing business, investment, and job creation.
[ABS News Service/09.10.2026]
Union Minister of Commerce and Industry
Piyush Goyal said that “India began building bridges when the world was building
walls” while addressing the curtain raiser of the 31st CII Partnership Summit in
New Delhi on 8 October, 2026. He noted that India recorded USD 863 billion in exports
last year and has set itself the target of achieving USD 1 trillion in exports in
the current year. This would represent nearly 16 per cent growth in a year when
international trade is expected to grow by only around 2.5 to 3 per cent, while
the global economy remains vulnerable to shocks and global growth is expected to
fall below 3 per cent.
Mr. Goyal expressed confidence that India
would achieve the USD 1 trillion export target, noting that the target has been
set not merely by the government but by the people and businesses of India, including
63 million MSMEs, large and small industries, global capability centres and around
250,000 startups. He also said that the Reserve Bank of India had once again raised
its growth projections for the current year and expressed confidence that India
would continue to grow at over 7 per cent and remain the fastest-growing large economy.
The Minister attended the curtain raiser
along with Chief Minister of Andhra Pradesh Mr. Chandrababu Naidu. The Partnership
Summit will be held in Visakhapatnam on 12th and 13th November.
Urging countries to participate in the
Summit, Mr. Goyal said the event would provide an opportunity to look at the India
story through the lens of growth, opportunity and partnership. He urged the distinguished
guests to ensure that their countries send strong delegations to Visakhapatnam and
participate in the various programmes, panels, discussions and formal and informal
networking opportunities offered by the Partnership Summit.
He urged CII to establish FTA utilisation
desks across every State Council to help MSMEs effectively use Free Trade Agreements,
understand new market access opportunities and rules of origin, join delegations,
participate in exhibitions and conferences, and showcase their products, technologies
and offerings to global markets.
The Minister also highlighted the milestone
of Prime Minister Mr. Narendra Modi completing 25 years as head of government, beginning
with his tenure as Chief Minister of Gujarat from 7th October 2001 and continuing
as Prime Minister of India since 26th May 2014. He described this as 25 years of
uninterrupted public service and an unblemished track record aimed at making India
a truly powerful nation, restoring the glory India had once enjoyed and making India
a developed nation by 2047.
Mr. Goyal said the collective commitment
of 1.4 billion Indians is being taken forward by the Prime Minister towards the
mission of making India a developed nation by 2047 and fulfilling the dreams and
aspirations of every child born in the country.
Recalling a shloka from Chapter 3, Verse
21 of the Bhagavad Gita, Mr. Goyal said, “Whatever a great leader does, others follow.
Whatever standard he sets, the world pursues.” He said the country is proud of the
25 years of seva, or service, led from the front by the Prime Minister.
He highlighted the Prime Minister’s focus
on reaching the last mile in welfare and good governance, referring to the Jyotigram Yojana in Gujarat, which he said was the first effort
at that point of time to take electricity to every home and every farm and ensure
24-hour uninterrupted power for industry to promote industrialisation.
Mr. Goyal also referred to the JAM trinity
of Jan Dhan, Aadhaar and Mobile, through which India strengthened the connect between
people and government, and to Digital India, which enabled digital technology and
digital connectivity across the length and breadth of India.
Referring to the 10th edition of the India
Mobile Congress, Mr. Goyal said Prime Minister Mr. Narendra Modi had recalled that
the Digital India movement had resulted in savings of over Rs. 5 lakh crore, or
over USD 55 billion, for the nation over the last 12 years.
The Minister said that the Prime Minister
has consistently chosen reform over the easy path. He cited the introduction of
GST to bring different tax systems across the country under one umbrella and the
integration of regional power grids into one national grid as examples of this approach.
He said that despite the challenges posed
by COVID-19 and the two wars with which the world is grappling, India has continued
to remain the world’s fastest-growing large economy. He said Prime Minister Modi
has understood the value of technology and demonstrated how technology can serve
people at large, with the adoption of modern technology serving as the mainstay
and backbone of his work over the last 25 years.
Mr. Goyal said that India had earlier
been defensive in its approach and hesitant to engage with the developed world,
including being unwilling to open up the automobile sector and the country to new
technologies. Today, he said, India engages with the world with the self-confidence
of a nation on the move, bringing to the table technology, talent, competitiveness
and greater market access for its goods and services.
He assured that every free trade agreement
and other agreement entered into by India protects sensitive sectors, particularly
Indian agriculture, fishermen and MSMEs, while opening up opportunities for exports
of agricultural products, fisheries and marine products, high-precision items, engineering
products and electronic products made by MSMEs. These agreements also open investment
opportunities for countries and companies to come to India and participate in the
growth of the world’s largest market.
Mr. Goyal said India’s economy, currently
around USD 4 trillion, has the potential to grow to USD 30 trillion by 2047. He
highlighted India’s youthful and aspirational population and its desire for a better
quality of life for itself and its families.
On technology, the Minister said India
does not shy away from new-age technologies and adopts the best-of-class global
technology developments. He said the country has moved beyond concerns that new
technologies could lead to job losses and now has the courage of conviction that
these technologies will create new opportunities for India’s talented youth.
He said India would leverage new technologies
to offer its talent and skills to the world, improve efficiency and productivity,
make Indian goods and services more competitive globally, and create opportunities
for youth in areas including cyber security and applications built around emerging
technologies. He expressed confidence that Indian industry and the people of India
would leverage technological upgradation to the advantage of 1.4 billion Indians
by opening newer opportunities in jobs, business and entrepreneurship.
The Minister emphasised that trust is
a defining element of India’s engagement with the world. He said that during the
COVID-19 pandemic, when the global economy was severely disrupted, India met every
international commitment on time, whether relating to the supply of merchandise
or provision of services. Even during the strictest lockdowns, export-oriented units
continued serving customers while following social protocols and precautions, while
broadband services were moved into people’s homes to ensure that services were not
affected. Service Level Agreements signed with global companies were also respected
and met.
Recalling the 2022 G20 Summit in Rome,
Mr. Goyal said global leaders had complimented Prime Minister Mr. Narendra Modi
by describing India as a trusted partner of the globe. He also noted that India
had recently seen credit rating upgrades from several credit rating agencies.
The Minister said Indian industry is focused
on remaining ahead through cutting-edge technology, progressing on carbon mitigation
towards sustainability goals and benefiting from labour reforms that enable industry
to prosper while providing Indian labour with social security, good salaries, wages
and amenities for a better lifestyle. He said the government is continuously working
on ease of doing business measures, good governance and dialogue between industry
and government to meet the aspirations and needs of industry and the exacting global
standards that India is now willing to adopt and engage with.
Referring to the theme of the Partnership
Summit, Mr. Goyal said it closely resonates with the five T’s he had highlighted
at the 2025 Summit in Visakhapatnam: Technology, Trust, Trade, Talent and Tradition.
He said these five T’s reflect great partnerships and that trade, technology, trust
and thought leadership are becoming defining features and core elements of India’s
growth story.
Mr. Goyal also highlighted the significance
of the Partnership Summit as an occasion to celebrate India’s achievements, present
India’s growth story to the world and build bridges with countries and delegations
from around the world.
The Minister said India would stand by
its friends through testing and difficult times, reflecting the Indian ethos of
“Vasudhaiva Kutumbakam”, under
which the world is viewed as one family.
Mr. Goyal also complimented Andhra Pradesh
Chief Minister Mr. Nara Chandrababu Naidu for technology-driven development and
governance in Andhra Pradesh. He described Andhra Pradesh as the “sunrise state”
of the country and said that when the Central and State Governments work together
as partners, the people progress and there is greater prosperity for the people
of Andhra Pradesh.
Mr. Goyal said Google’s first AI hub is
coming up in Visakhapatnam, where the Partnership Summit will be held, while Amaravati
is becoming a quantum valley. He said Mr. Chandrababu Naidu continues to focus on
ease of doing business to promote investments and growth in Andhra Pradesh and the
well-being and welfare of every person in the State.
He described this as “Team India at its
best”, with the Centre and State working together, the Central Government opening
global markets through free trade agreements and other opportunities, and Andhra
Pradesh converting these opportunities into factories, data centres and jobs. He
said Andhra Pradesh and its people have made India proud through their achievements
at home and across the world. Referring to the discussion on AI, quantum computing
and the growing influence of technology, he highlighted the contribution of people
from Andhra Pradesh across the world in their chosen professions and their abilities
in numbers and science, technology and mathematics.
Mr. Goyal concluded by saying that India
today is aspirational, Indian business is confident and the country is commanding
global respect. He said the commitment of
1.4 billion people drives India and expressed confidence that the 31st edition of
the Partnership Summit would be another milestone in India’s and Indian industry’s
growth story as the country powers towards becoming a USD 30 trillion developed
nation.