Union Minister for Commerce and Industry Piyush Goyal has expressed confidence that India will achieve its ambitious target of $1 trillion in exports this year, underlining the country’s growing role in global trade and investment. Speaking at the curtain raiser of the 31st CII Partnership Summit in New Delhi, Goyal said India was strengthening international partnerships at a time when global trade and economic growth face considerable uncertainties.
India recorded exports worth around $863 billion last year and is now targeting nearly 16 per cent growth to reach the $1 trillion mark. Goyal noted that this ambition comes against the backdrop of global trade growth estimated at only around 2.5–3 per cent. He said the export target reflects the collective aspirations of Indian businesses, industries, startups and millions of entrepreneurs.
The 31st CII Partnership Summit will be held in Visakhapatnam on November 12 and 13. Goyal invited countries and international businesses to participate actively in the event, describing it as an opportunity to understand India’s growth story through the themes of opportunity, partnership and economic expansion.
The minister called for stronger support to micro, small and medium enterprises (MSMEs) to help them take advantage of Free Trade Agreements (FTAs). He urged the Confederation of Indian Industry (CII) to establish FTA utilisation desks across its state councils. Such desks, he said, could help MSMEs understand market access provisions, rules of origin and export opportunities while facilitating participation in international exhibitions, trade delegations and business conferences.
Goyal also highlighted India’s economic transformation over the past two decades, pointing to initiatives such as the Jan Dhan-Aadhaar-Mobile (JAM) framework, Digital India and the Goods and Services Tax (GST). According to him, these reforms have strengthened connectivity between citizens, government and businesses while creating a more integrated national economy.
The minister said India had increasingly embraced technology as an instrument for economic development and public service delivery. He highlighted the country’s growing capabilities in areas such as artificial intelligence, quantum technology, cybersecurity and other emerging technologies. India, he said, should use these advancements to improve productivity, strengthen the competitiveness of domestic products and services and generate new employment and entrepreneurial opportunities.
Goyal emphasised that trust remains central to India’s relationship with global partners. He pointed to India’s performance during the COVID-19 pandemic, when Indian businesses continued to honour international commitments despite severe disruptions to global supply chains. This, he said, reinforced India’s image as a dependable partner for the global economy.
He also outlined India’s long-term economic ambitions, stating that the economy, currently valued at around $4 trillion, has the potential to expand to approximately $30 trillion by 2047. A young and aspirational population, technological progress, economic reforms and expanding global engagement are expected to support this transformation.
Goyal said India’s approach to international trade has also evolved. From being cautious about opening certain sectors, the country has moved towards greater engagement with global markets while continuing to safeguard sensitive sectors such as agriculture, fisheries and MSMEs. At the same time, FTAs are expected to create opportunities for Indian agricultural, engineering, electronics and marine products to access overseas markets.
The minister also praised Andhra Pradesh Chief Minister N. Chandrababu Naidu for promoting technology-led development and investment in the state. He highlighted Visakhapatnam’s emerging role in artificial intelligence and Amaravati’s development as a centre for quantum technology.
Describing cooperation between the Centre and Andhra Pradesh as “Team India at its best”, Goyal said national-level trade opportunities could be converted into investments, factories, data centres and jobs at the state level.
Concluding his address, Goyal said India today is increasingly aspirational, confident and globally respected. He said the country’s commitment to technology, trust, trade, talent and tradition would remain central to its journey towards becoming a developed economy by 2047.
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Author: Shivam
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