Goyal wants $2trn exports by 2030
Minister for Commerce and Industry Piyush Goyal has discussed strategies for strengthening India’s export ecosystem in the context of evolving global trade dynamics and especially in continuation of the India–New Zealand FTA signed with representatives of 30 Export Promotion Councils (EPCs) and apex industry chambers, along with senior officials from the Department of Commerce and the Directorate General of Foreign Trade (DGFT).
Goyal said at the meeting, held 27 April, that India’s total merchandise and services exports reached a record US$860.09 billion in FY 2025–26, registering a 4.22% year-on-year growth. He noted that sectors such as engineering goods, electronics, pharmaceuticals, chemicals, gems & jewellery and agri-based products have sustained export momentum despite global disruptions.
The Minister emphasised that this milestone should serve as a springboard for achieving US$2 trillion in exports by 2030 under the Viksit Bharat vision. He urged exporters and industry bodies to fully leverage India’s Free Trade Agreements (FTAs) with developed economies to expand market access, boost exports and create employment opportunities, noting that timely utilisation of these agreements is critical.
During the meeting, the Director General of Foreign Trade made a detailed presentation on export performance, ongoing reforms and a structured framework for achieving measurable export outcomes. The presentation outlined a comprehensive export reform framework covering sectoral export performance, a KPI-based framework for EPCs, promotion of e-commerce exports, Districts as Export Hubs, the proposed Digital Trade Academy, the Government’s response to the West Asia crisis, progress under the Export Promotion Mission, and the ongoing special drive for expediting the Export Obligation Discharge Certificate (EODC).
The DGFT stressed that EPCs must act as equal partners with the Government in driving market diversification, bringing more MSMEs into the export ecosystem, greater use of technology, and ensuring that policy measures translate into measurable outcomes at the national level.
Industry representatives raised issues relating to compliance costs, testing requirements, and challenges faced by MSMEs in entering export markets. The Minister assured continued Government support, including facilitation under ongoing schemes and targeted interventions to reduce entry barriers and enhance ease of doing business.
Key bodies participating in the meeting included the Federation of Indian Export Organisations (FIEO); Gem & Jewellery Export Promotion Council (GJEPC); Apparel Export Promotion Council (AEPC); Council for Leather Exports (CLE); Engineering Export Promotion Council of India (EEPC India); Basic Chemicals, Cosmetics & Dyes Export Promotion Council (CHEMEXCIL); Cotton Textiles Export Promotion Council (TEXPROCIL); Manmade and Technical Textiles Export Promotion Council (MATEXIL); other major textile EPCs; Carpet Export Promotion Council (CEPC); Export Promotion Council for Handicrafts (EPCH); agriculture & allied bodies including the Seafood Exporters Association of India (SEAI); Agricultural and Processed Food Products Export Development Authority (APEDA); Shellac & Forest Products Export Promotion Council (SHEFEXCIL); Indian Oilseeds and Produce Export Promotion Council (IOPEPC); Pharmaceuticals Export Promotion Council of India (PHARMEXCIL); National Association of Software and Service Companies (NASSCOM); Federation of Indian Chambers of Commerce & Industry (FICCI); Associated Chambers of Commerce & Industry of India (ASSOCHAM); PHD Chamber of Commerce and Industry (PHDCCI); and several other leading sectoral associations.
Discussions also highlighted progress under the Export Promotion Mission (EPM), the Government’s flagship scheme to support exporters. The Minister encouraged EPCs to take steps to increase the number of active exporters. He also emphasised Government support to exporters for entering new markets and increasing their presence in existing markets to accelerate export growth.
The Minister reaffirmed the Government’s commitment to strengthening a facilitative trade ecosystem through ongoing reforms, targeted support measures and close collaboration with industry, to accelerate export growth and position India as a trusted global supply partner, the Ministry of Commerce and Industry said on 28 April. Fiinews.com
