New Delhi: India is aiming to achieve the ambitious target of $1 trillion in exports by FY27, with the government banking on new free trade agreements (FTAs) and a proposed export promotion mission to accelerate growth in the sector.
Speaking to NDTV Profit, Commerce Secretary Rajesh Agrawal said the government expects export growth in the current financial year to exceed last year’s pace. He added that India would need growth well beyond the 10–15 per cent range to meet the FY27 target.
According to Agrawal, the proposed Export Promotion Mission is expected to play a key role in strengthening India’s trade strategy by supporting exporters, improving access to international markets and helping domestic businesses take advantage of emerging global opportunities.
He also said that the implementation of recently concluded FTAs in the coming months is likely to provide an additional boost to outbound shipments.
The Commerce Secretary noted that India stands to benefit from ongoing changes in global supply chains, as multinational companies increasingly seek to diversify manufacturing and sourcing operations beyond traditional hubs.
“India is steadily emerging as a reliable and trusted partner in the changing global trade ecosystem,” he said.
Earlier, Union Commerce and Industry Minister Piyush Goyal had urged exporters to actively explore new opportunities created through trade agreements and work towards achieving the $1 trillion export target by FY27.
India’s combined goods and services exports reached a record $863.11 billion in FY26 despite global geopolitical tensions, weak international demand and higher tariffs imposed by the United States.
While merchandise exports recorded moderate growth, services exports continued to remain the major driver of India’s overall trade expansion.
Goyal said that to achieve the FY27 target, India would require export growth of around 16–17 per cent.
He also highlighted that India already has operational FTAs with United Arab Emirates, Australia, Mauritius and the European Free Trade Association, while negotiations are underway with several other countries and regional trade blocs to further expand India’s global trade presence.
With inputs from IANS