Union minister Piyush Goyal says India’s goods and services exports to cross $900 billion in FY2026

For the current fiscal year 2025-2026, the country’s goods and services exports are estimated to cross $900 billion, said the Union Minister for Commerce and Industry Piyush Goyal.

“We have crossed $825 billion exports last year; we are surely to cross $900 billion this year in all this global turmoil,” Goyal doubled down when speaking to an Indian business delegation on Wednesday night in Switzerland.

The commerce minister’s comments came at the heels of the world reeling from the uncertainty of the Trump tariffs, the fallout of the Russia-Ukraine conflict, the Gaza genocide, and China’s move to throttle the global supply of select materials in response to the US.

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Goyal was on a two-day official visit to Switzerland to advance India–Swiss economic cooperation and start implementing the Trade and Economic Partnership Agreement (TEPA) signed earlier this year between India and the European Free Trade Association (EFTA).

Following his official engagements in Sweden on June 11, he addressed an Indian delegation, where he provided his outlook on exports.

During his visit, Goyal met Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research (EAER), and State Secretary Helene Budliger Artieda “to chart a forward-looking roadmap for TEPA implementation”.

These included discussions on regulatory cooperation, skills development, partnerships, and mechanisms for faster investment decision-making, stated the Commerce Ministry.

The Union Minister also participated in the 18th Swissmem Industry Day held in Zurich on June 10, where he met with delegates of Swissmem, Switzerland’s apex association representing mechanical, electrical, and metal (MEM) industries.

Goyal’s export estimates are in line with that of the Federation of Indian Export Organisations (FIEO), which sees goods and services exports to grow by 21 per cent year-on-year to $1 trillion during the current fiscal period.

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