THEBUSINESSBYTES BUREAU

NEW DELHI, NOVEMBER 3, 2026

India has set an ambitious target of USD 1 trillion in exports for the current financial year, banking on its growing global economic stature and expanding trade partnerships, with shipments already registering 14 per cent growth to USD 480 billion in the first six months, Commerce and Industry Minister Piyush Goyal said on Tuesday.

Addressing the Young Leaders Discourse Forum at Kirori Mal College here, Goyal expressed confidence that the country would achieve the export milestone, requiring another USD 520 billion in exports during the remaining six months of the financial year.

India had recorded its highest-ever exports of USD 863 billion in the previous financial year, he said, adding that the government had deliberately opted for a target of USD 1 trillion, envisaging 16 per cent growth, despite relatively modest projections for global trade expansion.

"We could have set a target of USD 900 billion, which would itself have represented more than twice the projected global trade growth. But we chose to be ambitious," Goyal said, expressing optimism about achieving the target and noting that October had also been a good month for exports.

He pointed out that the International Monetary Fund (IMF), which had projected global trade growth of 1.9 per cent in April-May, had subsequently revised its estimate to around 3.5 per cent. India's strong export performance could have been among the factors contributing to the upward revision, he observed.

Highlighting India's growing influence in international trade, Goyal said the country had emerged as a trusted global partner, with nations across almost every region showing keen interest in entering into preferential trade agreements and free trade agreements with India.

He attributed the country's rising international standing to its economic resilience, skilled workforce, youthful population and commitment to contributing to global growth.

India had travelled a remarkable distance from being counted among the 'Fragile Five' economies to becoming one of the world's leading economies and the fastest-growing large economy, the minister said.

Referring to a recent World Bank report, he noted that nearly 50 crore people had moved out of extreme poverty and were working towards improving their living standards through sustained efforts.

Goyal said India's demographic advantage, with an average age of below 30 years, its democratic framework, talent pool, decisive leadership and the aspirations of 140 crore people had collectively strengthened the country's growth trajectory.

Recalling India's contribution during global crises, he said the country had supplied vaccines to several nations during the COVID-19 pandemic while ensuring free vaccination for its own citizens. India had also extended assistance through medicines, relief and rehabilitation support to countries irrespective of their level of development, he added.

Turning his attention to the younger generation, Goyal said achieving the vision of a developed India by 2047 was non-negotiable and today's youth would play a decisive role in shaping the country's future.

Observing that students would be in their forties when India celebrates 100 years of independence, he urged them to think beyond conventional limitations, embrace change and pursue ambitious goals.

He emphasised that transformation required a fundamental change in the way people think, work and live, and called upon young people to continuously reinvent themselves and remain committed to lifelong learning.

Educational institutions, he said, played a crucial role not merely in imparting academic knowledge but also in building character, resilience, confidence and discipline. The guidance of teachers and the environment in schools and colleges often shaped individuals in ways they fully recognised only after entering professional life.

Referring to the National Education Policy, Goyal said greater flexibility in choosing courses, earning academic credits and switching between streams had opened up new avenues for students to pursue their aspirations.

With nearly the entire country becoming digitalised and around 1.1 billion internet users, young Indians had unprecedented access to global knowledge, opportunities and experiences, which they should utilise to develop their capabilities and contribute to national progress, he said.

Calling for a balance between modernisation and cultural values, the minister stressed that discipline and respect for traditions remained fundamental to the strength of institutions.

He urged students to keep a larger national goal in mind, maintain self-confidence and courage, and never shy away from challenges, asserting that determination and the willingness to embrace change were essential for success.