India’s Commerce Minister outlined an ambitious export roadmap at the CII Annual Business Summit in New Delhi.
Union Minister of Commerce and Industry Shri Piyush Goyal addressed the Confederation of Indian Industry Annual Business Summit in New Delhi on May 12, 2026, declaring that India is on course to achieve an all-time high export figure of nearly USD 863 billion this year. Shri Piyush Goyal also noted that India remains the fastest-growing large economy and holds nearly 11 months of import cover in foreign exchange reserves. He also highlighted that nine Free Trade Agreements signed over the past three-and-a-half years with 38 developed economies would help Indian businesses access large global markets and attract investment.
Shri Piyush Goyal called upon Indian industry to target USD 2 trillion in exports over the next five to six years, stating that annual export growth of around 15 per cent would make the goal achievable. He urged businesses to shift from assembling goods in India to designing, engineering and manufacturing them domestically, and stressed that quality standards must rise to global levels. The Union Minister of Commerce and Industry also pointed to the rapid growth of Global Capability Centres, with nearly 1,800 already operational and exports from these centres growing at 40 to 50 per cent annually, currently standing at around USD 50 billion and employing close to two million people. He further encouraged industry to embrace artificial intelligence, robotics and quantum computing as tools for business expansion and productivity rather than simply cost reduction.
Source: Press Information Bureau
