Union Minister for Commerce and Industry Piyush Goyal has expressed confidence that India is on track to achieve its export target of one trillion dollars this year. Addressing the curtain-raiser event for the Bharat Mobility Global Expo 2027 in New Delhi yesterday, Mr. Goyal said India had already achieved exports worth approximately 480 billion dollars in the first six months of the financial year, accounting for 48 per cent of the annual target. He said exports generally gain momentum in the second half of the year and expressed confidence in India’s overall export performance.
Highlighting the contribution of the engineering sector, the Minister said exports from the sector had registered a growth of around 22 percent. He said the October export figures would be released by the Commerce Secretary on the 15th of this month and expressed optimism about the numbers. The Minister also emphasized that India should emerge as a global hub for technology development and design, with talent-driven solutions being developed within the country. He further said India should soon aim to achieve domestic sales of 10 million passenger vehicles, with exports being additional to domestic sales.
Talking about the Bharat Mobility Global Expo 2027, the Commerce Minister said, bringing the entire mobility value chain together at one location made the event particularly attractive to international visitors, who could engage with different segments of the industry in a single visit. He emphasized that these platforms, which bring together entire value chains, enabled India to showcase its capabilities to the world.
Mr. Goyal further said that the scale of the Indian market offered an ideal opportunity for global manufacturers to establish production facilities in India. The Minister also said that the mobility sector would be among the biggest beneficiaries of India’s position as the fastest-growing large economy.
Bharat Mobility Global Expo 2027 will be held in February next year in New Delhi. The Expo will feature conferences, leadership sessions, policy discussions, product launches, and other similar interactions, bringing together experts and decision-makers from India and across the world.
