News Brief
India's Exports To Cross $800 Billion This Year, $1 Trillion By 2026-27: Piyush Goyal
Commerce Minister Piyush Goyal (Pic Via Twitter)
Union Minister for Commerce and Industry Piyush Goyal, speaking at the India Economic Conclave organised by Times Network, articulated an ambitious vision for India's economic future, underpinned by robust export growth and increasing global investment.
Goyal projected that Indian exports are poised to exceed $1 trillion within the next two to two-and-a-half years, a reflection of the nation’s expanding footprint in global trade.
He noted that exports are on track to cross $800 billion this year, underscoring India’s growing integration with international markets.
The minister emphasised India’s recognition as a favourable investment destination, remarking, "Exports will cross $800 billion this year, and about a trillion dollars in the next two, two and a half years. Across the world today, there is a recognition that the best investment opportunity is in India."
This sentiment, he suggested, aligns with the government’s comprehensive approach to fostering economic growth.
Goyal outlined the multifaceted strategies driving India’s economic transformation, including extensive infrastructure development, targeted social welfare initiatives, and a concerted emphasis on women-led development.
He stressed the role of women in ensuring inclusive economic growth, stating, "As more women participate in the formal economy, they will play a leading role in ensuring inclusive growth. The government is committed to ensuring no child in the country is deprived of basic amenities like food, clothing, shelter, and healthcare."
Similarly, technological advancements have been transformative, with the rapid deployment of 4G networks in remote areas and the ongoing rollout of 5G technology progressing at an unprecedented pace.
Foreign Direct Investment (FDI) trends further underscore India’s economic ascent.
Goyal also highlighted a 119 per cent increase in FDI inflows over the past decade compared to the preceding one, noting that two-thirds of India’s cumulative FDI inflows of $1 trillion have been recorded in the last ten years.
"The world today recognises India as the best opportunity to invest," he asserted, reflecting global confidence in the country’s economic potential.
Looking to the future, Goyal projected that India could evolve into a $30-35 trillion economy by 2047, aligning with the “Viksit Bharat” vision of a prosperous, developed nation.
He concluded by emphasising India’s readiness to lead on the global stage, highlighting its strong economic fundamentals, technological advancements, and inclusive growth strategies as the foundation for sustained progress.
