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Informist, Wednesday, May 13, 2026

 

--Trade minister: Set export target of $1 tln for FY27 

--CONTEXT: Comments by Trade Minister Goyal at an event in New Delhi 

 

NEW DELHI – The government has decided to set an export target of $1 trillion for the current financial year, Commerce and Industry Minister Piyush Goyal said Wednesday. "We have decided that let us aspire for a $1 trillion export target in the current year. It is possible," he said at an event in New Delhi.

 

Overall exports, goods and services included, reached $860.09 billion in FY26. Of this, merchandise exports were $441.71 billion. 

India has signed several free trade agreements over the past few years and five more will take effect in the next 12 months, Goyal said. The government is also in talks with the Gulf Cooperation Council, Canada, and Israel for trade pacts, he added. The minister said India will soon start talks with Mexico and the South African Customs Union for trade agreements.

 

The government is looking at further reduction in the compliance burden, having cut down 42,000 compliances already, the minister said. "I have told the DPIIT (Department for Promotion of Industry and Internal Trade) to start working on all processes, procedures, policies, forms that businesses have to fill up. Try to integrate databases and reduce the burden," Goyal said.  End

 

US$1 = INR 95.70

 

Reported by Shubham Rana

Edited by Rajeev Pai

 

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