Overview
- Commerce minister Piyush Goyal, speaking Wednesday, set a goal of $1 trillion in goods and services exports for the current fiscal year.
- Hitting the mark would require $137 billion more than last year, equal to roughly 16–17% growth.
- The plan relies on free trade agreements, with four already in force and five more expected within 12 months, and deals with Chile and the Maldives slated to finish this year.
- To lower trade costs, the government says it has scrapped 42,000 compliance requirements and asked the industry department to move forms and processes online while coaching exporters on FTA use in a session with over 1,100 participants.
- India finished FY26 at a record $863.11 billion in total exports, with services up 8.71% to $421.32 billion and merchandise at $441.78 billion with 0.93% growth.