India $1 trillion export target remains achievable in the current fiscal, with exports reaching $570 billion through October. Commerce and Industry Minister Piyush Goyal described the performance as unprecedented.
India also recorded its highest-ever monthly exports of nearly $90 billion in October 2026. This included approximately $50 billion in merchandise exports and $40 billion in services exports.
Goyal expressed confidence that India’s international trade would grow by 15-16 per cent during the current year. He said this growth remained possible despite two ongoing wars, global volatility and subdued international trade growth.
Global trade growth is expected to remain around 3.5 per cent, he added. India’s performance reflected economic strength and exporter confidence, according to the minister.
Goyal urges exporters to leverage free trade agreements
Inaugurating the 45th India International Trade Fair (IITF) 2026 at Bharat Mandapam, Goyal urged businesses to expand globally.
He called on manufacturers, exporters, artisans and entrepreneurs to leverage opportunities created by India’s free trade agreements (FTAs).
According to Goyal, markets across developed economies are opening up for Indian goods and services. He urged businesses to use these opportunities to support India’s ambition of becoming a developed nation by 2047.
The minister said the latest IITF edition represented five dimensions of India. These included its economy, exports, infrastructure growth, domestic demand and cultural diversity.
IITF 2026 features over 3,500 exhibitors
More than 30 states and Union Territories are showcasing their strengths at this year’s fair. Additionally, the event features over 3,500 exhibitors and participation from 11 countries.
The One District, One Product Pavilion will showcase products from different parts of India. It will highlight the country’s arts, handicrafts, handloom and food products.
Goyal also announced plans for the next phase of Bharat Mandapam’s expansion. The proposed expansion will almost double the exhibition space available to exhibitors.
He said recent exhibitions, including IITF, had demonstrated growing demand for larger facilities. Consequently, even the existing expanded infrastructure was no longer sufficient.
Goyal expects record GST collections in November
Highlighting domestic economic activity, Goyal referred to strong business activity during the recent festive season.
October GST collections had already reached an all-time high for the month. The minister also expressed confidence that November would record another monthly high.
He said India’s export performance and domestic demand reflected the resilience of its economy. The government expects businesses to build on this momentum through wider international market access.
