India Targets $2 Trillion Exports by 2030 as Piyush Goyal Pushes Industry to Leverage FTAs and Expand Global Reach

India’s total merchandise and services exports reached a record $860.09 billion in FY 2025–26, registering a 4.22% year-on-year growth, despite ongoing global disruptions.

India is sharpening its export strategy amid shifting global trade dynamics, with Commerce and Industry Minister Piyush Goyal calling for a coordinated push between government and industry to accelerate growth and position the country as a trusted global supply partner.

Chairing a high-level meeting with Export Promotion Councils (EPCs) and leading industry bodies at Bharat Mandapam, New Delhi, on April 27, 2026, the Minister outlined a roadmap to build on India's record export performance and scale it to new heights.

Record Exports Set the Stage for Ambitious Growth

India's total merchandise and services exports reached a record $860.09 billion in FY 2025–26, registering a 4.22% year-on-year growth, despite ongoing global disruptions.

Key sectors sustaining momentum include:

• Engineering goods

• Electronics

• Pharmaceuticals

• Chemicals

• Gems & jewellery

• Agriculture and allied products

Goyal emphasised that this milestone should serve as a springboard to achieve $2 trillion in exports by 2030, a central pillar of the Viksit Bharat vision.

FTAs Key to Unlocking Market Access

The Minister urged exporters to fully utilise India's growing network of Free Trade Agreements (FTAs)—including the recently signed India–New Zealand FTA—to expand into developed markets.

"Timely and effective utilisation of FTAs is critical to boosting exports and generating employment," he said, highlighting the need for proactive engagement with global markets.

DGFT Outlines Reform-Driven Export Framework

During the meeting, the Directorate General of Foreign Trade (DGFT) presented a comprehensive strategy to drive export growth through measurable outcomes.

The framework includes:

• KPI-based performance tracking for EPCs

• Promotion of e-commerce exports

• Expansion of the Districts as Export Hubs initiative

• Establishment of a Digital Trade Academy

• Progress under the Export Promotion Mission (EPM)

• Fast-tracking of Export Obligation Discharge Certificates (EODC)

The DGFT stressed that EPCs must act as equal partners with the Government, particularly in:

• Diversifying export markets

• Bringing more MSMEs into the export ecosystem

• Leveraging technology for trade facilitation

Industry Flags Challenges, Government Assures Support

Industry representatives raised key concerns, including:

• High compliance costs

• Stringent testing and certification requirements

• Barriers faced by MSMEs in accessing global markets

Goyal assured continued government support through targeted interventions, policy reforms, and ease-of-doing-business measures, aimed at reducing entry barriers and enhancing competitiveness.

Broad Industry Participation Reflects Unified Push

The meeting saw participation from 30 Export Promotion Councils and major industry chambers, including:

• FIEO, EEPC India, GJEPC, AEPC, PHARMEXCIL

• NASSCOM, FICCI, ASSOCHAM, PHDCCI

• APEDA, SEAI, TEXPROCIL, MATEXIL, and others

This wide representation underscores the importance of sector-wide coordination in achieving export targets.

Focus on MSMEs and New Markets

A key priority highlighted was expanding the exporter base by encouraging more MSMEs to enter global markets.

The Minister called for:

• Greater market diversification

• Increased presence in emerging and existing markets

• Enhanced support for first-time exporters

Strengthening India's Global Trade Position

With global supply chains undergoing realignment, India is positioning itself as a reliable and competitive export hub, backed by reforms, digital trade initiatives, and strategic partnerships.

Goyal reiterated that close collaboration between government and industry will be crucial in achieving the next phase of export growth.