merchandise exports growth – Bharat Pulse News

India has set a $1 trillion export target for FY27, with the government expecting strong growth in both merchandise and services exports during the current financial year. India $1 Trillion Export Target For FY27 Commerce and Industry Minister Piyush Goyal said India is on track to reach the $1 trillion export milestone in FY27, supported by rising outbound shipments in the first quarter. India’s overall exports stood at about $863 billion in FY26. To reach the new target, the government expects merchandise exports to grow by around 16-17 percent, while services exports are projected to rise by 10-11 percent. Merchandise Exports Growth In April-June Goyal said merchandise exports grew more than 15 percent year-on-year during the April-June quarter, giving the government confidence that the annual export target can be achieved. The Centre is pushing exporters to improve scale, quality and competitiveness in global markets. The minister also urged businesses to make better use of India’s free trade agreements to access larger overseas markets and improve export performance. Export Strategy Focuses On MSMEs And States The government has asked states, export promotion councils and industry bodies to treat exports as a priority area. Regular coordination with the Board of Trade has also been proposed to improve execution. Goyal said the Export Promotion Mission will support MSMEs with international testing and certification costs, especially in sectors such as agriculture and pharmaceuticals. The Centre has also asked states to identify imported products that can be manufactured competitively in India. The Directorate General of Trade Remedies will continue to support domestic industries affected by dumped imports, as part of efforts to strengthen local manufacturing and reduce external dependence.

India Sets $1 Trillion Export Target

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