India exports on track for USD 1 trillion target, Commerce Minister Piyush Goyal says

India’s exports of goods and services were showing steady gains, with the government aiming to meet a USD 1-trillion target in 2026-27. Commerce and Industry Minister Piyush Goyal said exports during April-September 2026-27 were about USD 480 billion. The comments came at a curtain-raiser for Bharat Mobility Global Expo 2027.

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Goyal said the target remained fixed and added that progress had reached nearly half the goal. "Our USD 1 trillion export target this year is sacrosanct. We have to achieve it... We have already achieved 48 per cent of the target. I have the October trade numbers, it is very exciting... We are well on track for USD 1-trillion target,\" Goyal said.

USD 1-trillion export target and October trade data

Commerce Secretary Rajesh Agarwal will announce the October trade figures on November 13. Goyal linked export growth to wider market access for Indian firms. Goyal said completed free trade agreements would help Indian products reach markets that cover almost 75 per cent of global GDP.

Goyal asked the automobile industry to push harder into overseas markets and compete for investment. \"The world is watching you and its always the initial period where you have to really achieve and capture markets. Every country is vying for global markets. Every country is vying for investments. So, its up to you. Its time that we walk the talk. On our part, we have tried to meet every aspiration that industry always had in terms of markets, in terms of support,\" Goyal said.

USD 1-trillion export target linked to EU FTA and auto sector

Goyal said a trade agreement with the 27-nation European Union could open fresh options for India’s mobility ecosystem. Goyal cited Europe’s declining car output over time. Europe made 15.4 million cars in 2007. By 2019, production had reduced to 14.5 million. From 2019 to 2025, it dropped to 11.5 million.

\"....at Europes manufacturing costs and regulatory burden, they EU companies will not be able to compete in the global market. So when we negotiated the FTA, we of course gave them an opportunity to send their cars to India. But when I engaged with the auto industry of Europe, they recognised that they need market access in India only to test the market.Maybe five models, we EU will send and see which one has appetite in India. And once we EU are able to finalise what has appetite in India, then we EU will bring that car manufacturing to India and not only for India, but for the world. Because economies of scale will play out here,\" Goyal said.

Goyal said EU companies could use India’s domestic demand and also export from India at competitive costs. Goyal said this could create openings across the supply chain, including startups and key input industries. \"Now think of what it means to all of you... For every manufacturer here, you can look at collaborations or partnerships. For every person in the ecosystem, it could be our startups, it could be our steel industry, it could be our rubber manufacturers or rubber producers. The ecosystem will just keep getting expanded,\" Goyal said.

Goyal urged Indian firms to move quickly to secure these openings. Goyal also pointed to Maruti Suzuki’s recent shift in electric mobility exports. Goyal said Maruti Suzuki had not been present in electric mobility exports two years ago. Goyal said the company was now shipping from India to Japan and to 50 other countries.

Goyal recalled earlier remarks about Maruti Suzuki’s stance on electric vehicles. Goyal said, \"that in fact, they were an obstacle to the electric vehicle sector and I used to joke with them -- just because you dont make it, you are trying to justify petrol vehicles.\" Goyal again asked exhibitors to seek overseas demand for products shown at the expo.

Goyal said export-linked scale could sharpen price competitiveness for Indian producers. \"...if we supplement our domestic market with global markets, that scale will make us so competitive, that nobody on earth can beat us on pricing,\" Goyal said. Goyal added that sector jobs could rise to 10 crore in the coming years, from 3 crore now.

USD 1-trillion export target and Bharat Mobility Global Expo 2027 scale

The third Bharat Mobility Global Expo is planned across Bharat Mandapam and Yashobhoomi. Organisers plan over 2.5 lakh sq metres of exhibition area. The programme will include 11 concurrent shows. It is expected to host more than 1,750 exhibitors. Organisers also estimate footfall of over 10 lakh visitors.

Rajesh Agarwal asked domestic auto firms to focus on innovation and new products. Agarwal said the global mobility industry was changing and India needed to stay ahead. Agarwal also urged support for MSMEs to keep growth steady. Agarwal said, \"We need to put in lot of energy and strength,\" during the curtain-raiser event.

Organisers said Bharat Mobility Global Expo 2027 would grow beyond earlier editions. The programme was described as a broader platform for the full mobility value chain. The 2027 edition will include established auto segments and newer areas. These include advanced mobility technologies, air mobility, urban mass transit, agri-mobility, batteries and energy solutions, and next-generation transport systems.

With inputs from PTI