New Delhi: India is banking on the proposed export promotion mission and a new wave of free trade agreements (FTAs) to push the country’s exports towards the ambitious $1 trillion milestone in FY27, a top government official said on Friday.
Speaking to NDTV Profit, Commerce Secretary Rajesh Agrawal said the government expects export growth in the current financial year to surpass last year’s pace, with efforts aimed at achieving expansion well beyond the 10-15 per cent range required to meet the target.
Agrawal said the proposed Export Promotion Mission is expected to become a major pillar of India’s trade strategy by supporting exporters, improving access to overseas markets and helping domestic businesses tap into emerging global opportunities.
“The implementation of recently concluded FTAs in the coming months is likely to provide an additional boost to outbound shipments,” he mentioned.
According to the commerce secretary, India is also well-positioned to benefit from ongoing shifts in global supply chains, as multinational companies increasingly look 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,” Agrawal stated.
Earlier, Commerce and Industry Minister Piyush Goyal had urged exporters to aggressively explore fresh opportunities created through trade agreements, while emphasising that India should aim to cross the $1 trillion exports mark in FY27.
India’s combined goods and services exports touched a record $863.11 billion in FY26 despite geopolitical uncertainties, weak global demand and elevated tariffs imposed by the United States.
While merchandise exports posted modest growth during the year, services exports continued to remain the key driver of overall trade expansion.
Goyal said achieving the FY27 target would require export growth of around 16-17 per cent.
He highlighted that India already has operational FTAs with the United Arab Emirates, Australia, Mauritius and the European Free Trade Association, while negotiations are currently underway with several other countries and regional blocs aimed at expanding India’s global trade footprint.
(IANS)
