India is aiming to achieve a massive $1 trillion exports target by fiscal year 2027, with Union Commerce Minister Piyush Goyal expressing confidence that a series of upcoming free trade agreements (FTAs) will significantly accelerate the country's export growth over the next year.
Speaking about India's trade strategy, Goyal said at least five FTAs are expected to come into effect within the next 12 months, providing a major boost to India's global trade ambitions and improving market access for Indian goods and services.
The minister said the government is actively pursuing trade negotiations with Canada, Israel and the Gulf Cooperation Council (GCC). India is also planning to initiate trade talks with Mexico and begin negotiations with the Southern African Customs Union (SACU), which includes South Africa, Lesotho, Namibia, Eswatini and Botswana.
According to Goyal, these agreements are expected to strengthen India's export competitiveness and open up fresh opportunities for domestic manufacturers and service providers across sectors.
India's exports have already shown strong momentum in recent years. Total exports during fiscal year 2026 stood at $863.11 billion. Merchandise exports came in at $441.78 billion, marking a 0.93% increase over the previous year, while services exports rose 8.7% to $421.3 billion, highlighting the growing contribution of India's services economy.
The government believes the next phase of growth will be driven by wider market access, supply-chain diversification and stronger integration with global economies through FTAs.
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India has been aggressively expanding its trade footprint through bilateral agreements as global companies increasingly look to diversify manufacturing and sourcing beyond traditional hubs. The government sees FTAs as a key tool to increase exports, attract investments and deepen India's participation in global trade networks.
Goyal's comments come as India builds on recent trade agreements signed with countries including the UAE and Australia, while also progressing on negotiations with major economies such as the UK and the European Union.
The commerce minister also addressed the government's recent push to reduce unnecessary overseas travel and encourage wider use of digital platforms for meetings and official engagements.
Referring to Prime Minister Narendra Modi's guidance, Goyal said ministries and officials have been advised to move most meetings and functions online wherever possible.
He said some “ill-informed people” had misunderstood the intent behind the move, clarifying that the government is not discouraging essential business travel abroad. Instead, the effort is aimed at reducing avoidable expenditure and improving India's overall cost competitiveness.
“Going abroad for business is to still continue,” Goyal said, adding that video conferencing and virtual meetings are already widely used across government and industry.
The minister said the Prime Minister's message was about “tightening our belt” while promoting efficiency and encouraging domestic tourism by cutting down on leisure travel abroad.
The government believes that lower operational costs, expanding trade partnerships and stronger manufacturing competitiveness can together help India move closer to its ambitious $1 trillion export target in the coming years.
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