NEW DELHI — Union Minister for Commerce and Industry, Shri Piyush Goyal, chaired a high-level meeting with Export Promotion Councils (EPCs) and industry leaders at Bharat Mandapam yesterday. The session focused on scaling India’s export ecosystem following the landmark signing of the India–New Zealand Free Trade Agreement (FTA).
Minister Goyal announced that India’s exports reached a record $860.09 billion in FY 2025–26. He urged stakeholders to use this momentum to hit the $2 trillion export target by 2030, a key milestone of the Viksit Bharat vision.
Strategic Roadmap & Reforms
The Director General of Foreign Trade (DGFT) presented a comprehensive reform framework designed to modernize Indian trade:
-
Market Diversification: A push to expand the exporter base beyond traditional markets.
-
E-commerce & Digital Trade: Initiatives including the proposed Digital Trade Academy and “Districts as Export Hubs.”
-
MSME Support: The Government assured targeted interventions to reduce compliance costs and entry barriers for smaller enterprises.
-
FTA Leverage: Exporters were urged to maximize the benefits of recently signed agreements with developed economies to boost employment and market access.
Sectoral Performance
Despite global volatility, several key sectors maintained strong momentum in the previous fiscal year:
-
Engineering & Electronics
-
Pharmaceuticals & Chemicals
-
Gems & Jewellery
-
Agriculture & Allied Products
The Vision: “Timely utilization of FTAs is critical,” Minister Goyal stated, emphasizing that EPCs must act as “equal partners” with the government. The meeting concluded with a commitment to enhancing the Ease of Doing Business to position India as a premier, trusted global supply partner.
