Suryaa Now Business News Desk: Union Minister for Commerce and Industry Piyush Goyal stated that India is on track to reach the $1 trillion export milestone in the 2026-27 fiscal year, despite ongoing global geopolitical uncertainties and trade fluctuations. Speaking at the 45th India International Trade Fair at Bharat Mandapam in New Delhi on Friday, November 13, 2026, the Minister shared key data regarding the country's export performance.
In October 2026, India recorded its highest-ever monthly exports of approximately $90 billion, comprising about $50 billion in merchandise exports and $40 billion in services. Total exports for the first seven months of the fiscal year, from April to October 2026, reached $570 billion. The government aims to achieve $530 billion in merchandise exports and $470 billion in services exports to meet the annual target.
Data for October 2026 shows merchandise exports grew by 45.06 percent compared to the same period last year, reaching $49.47 billion. Petroleum product exports rose by 140.21 percent to $8.89 billion, electronics exports increased by 62.70 percent to $6.64 billion, and engineering goods exports grew by 36.01 percent to $12.74 billion.
Minister Goyal noted that India's trade agreements, both finalized and in the final stages, provide access to markets representing approximately 75 percent of the global GDP. Looking ahead, the Minister urged industries to focus on quality and eco-friendly products, with a long-term goal of reaching $2 trillion in exports over the next five years.
