Ziraat Times News Desk
New Delhi, May 18: Union Commerce and Industry Minister Piyush Goyal on Sunday said India has set a target of achieving exports worth $1 trillion this year and $2 trillion over the next five years, asserting that this would be the true hallmark of an Atmanirbhar Bharat.
Addressing the website launch ceremony of the Bharatiya Vyapar Mahotsav in New Delhi, Goyal said India’s exports have already reached $863 billion this year, nearly five per cent higher than the previous year despite global economic challenges. He said both goods and services exports have registered growth, calling it a significant achievement in the current global environment.
The minister said the export target was not merely a government goal but a “national mission,” adding that the Centre was prepared to provide all necessary support to achieve it.
Highlighting India’s trade outreach, Goyal said the government has been pursuing Free Trade Agreements (FTAs) with nearly 38 developed countries over the last three-and-a-half years. He said these agreements would provide Indian products preferential access to large international markets through lower import duties compared to competitors.
He said the proposed FTA with Oman may come into effect from June 1, while other finalised agreements awaiting procedural formalities would also be operationalised gradually.
Goyal urged businesses to closely monitor import trends through the Commerce Ministry’s trade portal to identify opportunities for domestic manufacturing and import substitution. He said India must reduce its dependence on imports by strengthening domestic production capacities.
Emphasising the need to promote Swadeshi products, the minister said even a small preference for foreign goods could weaken domestic industries. He cautioned that rising consumption driven by the expanding middle class could lead to a surge in imports if domestic industries fail to meet demand.
He called upon industrial clusters in Rajkot, Jalandhar, Ludhiana, Batala and Pune to enhance domestic production, particularly in sectors such as capital goods where India remains heavily dependent on imports.
The minister also highlighted progress in domestic manufacturing of medical devices, referring to a CT scan machine manufactured in Visakhapatnam, and said wider adoption of Indian-made products would help expand production scale and competitiveness.
Referring to Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, Goyal said India must continue striving for larger achievements and avoid complacency despite being the world’s fastest-growing major economy.
He stressed the importance of improving product quality, packaging and productivity to capture global markets, saying export-oriented manufacturing naturally drives higher quality standards.
Goyal said India’s agricultural and fisheries exports have crossed nearly Rs 5 lakh crore, but added that value addition in these sectors remains low. He urged young entrepreneurs and startups to enter food processing and value-added manufacturing sectors.
The minister said the government had expanded the definition of MSMEs, bringing enterprises with turnover up to Rs 500 crore within the MSME ambit, adding that the Centre wants businesses to grow larger and become globally competitive.
Calling for greater participation of youth and startups, Goyal said opportunities in import substitution and export-oriented manufacturing should be widely showcased to encourage entrepreneurship across the country.
He also proposed involving National Payments Corporation of India (NPCI) in the Bharatiya Swadeshi Mela to promote wider adoption of RuPay cards and UPI-based digital payments.
The Bharatiya Vyapar Mahotsav is scheduled to be held at Bharat Mandapam from August 12 to August 15, 2026.
