India’s merchandise exports rose by more than 15% year-on-year in the April–June quarter of this financial year, while services exports grew 11% in the same period, Commerce and Industry Minister Piyush Goyal said on Friday.
In the corresponding quarter of the previous financial year, merchandise exports stood at $111.56 billion, while services exports were $97.4 billion.
For 2026–27, the government has set an export target of $530 billion for goods and $470 billion for services. Speaking at a meeting of the Board of Trade (BoT), Goyal said achieving these targets would require annual growth of 17% in merchandise exports and 11% in services exports.
Together, the two segments are expected to take India’s total exports to $1 trillion, up 15.8% from $863 billion recorded in 2025–26.
“The world wants to work with us. We have to go out and capture those markets worldwide. We have a lot of demand. In a growing domestic economy we can easily sell goods in the domestic market but to get into the export market we need skill, quality and outreach,” the minister said.
He added that the Comprehensive Economic and Trade Agreement (CETA) with the UK will come into effect on July 14, eliminating duties on 99% of Indian exports to that market. The UK imports about $900 billion worth of goods annually, roughly double India’s total exports.
“After that, there is no way to complain. And if freight is expensive, it’s expensive for the whole world. It’s not just expensive for India,” he said.
Goyal noted that 66% of districts currently account for 80% of India’s exports, adding that the aim is to develop every district into an export hub. As part of this effort, 1,000 trained professionals will be deployed across districts and states to assist exporters.
He also outlined the Export Promotion Mission (EPM), which will support branding, overseas warehousing, participation in global exhibitions, and the establishment of testing laboratories across the country.
Highlighting defence exports, he said India exported Rs 38,400 crore worth of defence goods to 100 countries in the last financial year and has now reached a stage where defence exports exceed imports.
Goyal further urged states to identify products being imported for domestic manufacturing and report any suspected dumping cases to the Directorate General of Trade Remedies (DGTR).