India Posts $863 Billion Exports in FY26, On Track For $2 Trillion Target By 2030

India’s total goods and services exports touched an all-time high of USD 863 billion in FY26, despite global geopolitical tensions and disruptions in international trade, Union Commerce and Industry Minister Piyush Goyal said on Friday. He asserted that the country remains on track to achieve its ambitious target of USD 2 trillion in exports by 2030.

The record figure comprises USD 442 billion in merchandise exports and USD 421 billion in services exports, with services rising 8.7% from the previous year. A notable highlight is the record USD 387.9 billion in non-petroleum merchandise exports, demonstrating a broadening base of exported goods beyond crude oil and related products.

Goyal said India’s exports continued to grow even as several economies faced pressure from wars, tariffs and slowing trade flows, noting that “In the whole world, export is decreasing, international trade is badly affected because of the prevailing situation, but it is increasing in India.” The USD 863 billion figure is a significant jump from the USD 468 billion reported a decade ago, reflecting a compound annual growth rate of about 5.7 percent.

The government is pursuing the USD 2 trillion goal by modernising export infrastructure and expanding market access through free trade agreements (FTAs), while the minister highlighted that other countries are seeing their exports shrink while India’s are rising. This milestone underscores India’s resilience in a challenging global environment and its rising prominence in international trade.