India Confident of Achieving $1 Trillion Export Target: Piyush Goyal

Union Minister of Commerce and Industry Mr. Piyush Goyal addressed the preview ceremony of the 31st CII Partnership Summit in New Delhi. On this occasion, he remarked that while the world was building walls, India had begun building bridges. He informed that India recorded exports of $863 billion last year and has set a target of $1 trillion for this year, which would represent an increase of approximately 16 percent.

Mr. Goyal explained that this goal is the result of a collective commitment from the government, 63 million Micro, Small and Medium Enterprises (MSMEs), large industries, Global Capability Centers, and approximately 250,000 startups. Referring to estimates from the Reserve Bank of India, he expressed confidence that India will continue to grow at a rate of over 7 percent and remain the fastest-growing large economy in the world.

The upcoming Partnership Summit will be held on November 12 and 13 in Visakhapatnam. The Minister urged the CII to establish 'FTA Utility Desks' in every state council to help MSMEs effectively utilize Free Trade Agreements and gain access to global markets. He clarified that India's free trade agreements open export opportunities while protecting sensitive sectors, particularly agriculture, fisheries, and MSMEs.

Discussing the leadership of Prime Minister Narendra Modi, Mr. Goyal described his 25-year career in public service—serving as Chief Minister from October 7, 2001, and as Prime Minister since May 26, 2014—as having an impeccable track record. He stated that under the Prime Minister's leadership, India is moving toward becoming a developed nation by 2047. He cited reforms such as Digital India, GST, and the integration of the national grid as examples of the Prime Minister's visionary approach.

Regarding Andhra Pradesh, he congratulated Chief Minister Mr. Chandrababu Naidu and referred to the state as a 'sunrise state.' He mentioned that Google's first AI hub is being established in Visakhapatnam and Amravati is being developed as a Quantum Valley. Mr. Goyal noted that the Indian economy, currently valued at approximately $4 trillion, has the potential to reach $30 trillion by 2047.