India's exports rise 15% in April-July; Commerce Minister Piyush Goyal confident of $1 trillion target

Synopsis

India's exports saw a 15 percent increase during the first four months of this fiscal year. The Commerce Minister expressed optimism about reaching the $1 trillion export target by 2026-27. Nine free trade agreements have been concluded in the past four years. These agreements have opened many new possibilities for domestic industries.

Commerce Minister Piyush Goyal said India's exports grew by around 15% during April-July in the current fiscal year.

India's exports have risen by approximately 15% in the period of April to July during the current fiscal year, as stated by Piyush Goyal, the Minister of Commerce and Industry on Wednesday.

He additionlly expressed hopes that the export target of $1 trillion in 2026-27 will be achieved.

The target was set at 863 billion dollars in 2025-26.

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"During the first four months of this fiscal, about 15 per cent growth is there in exports," he said.

The exports and imports final numbers for July will be released on the 13th of August.

Referring to the free trade agreements (FTAs) concluded, he stated that in the last four years, nine FTAs have been concluded, thus opening many possibilities for the domestic industry.These agreements are responsible for about two-thirds of the global trade.

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The data shows that during the period of April to June during the current financial year, exports increased by 15.92% and reached 129.32 billion dollars, while imports increased by 19.89% and reached 216.18 billion dollars.