Addressing the Board of Trade meeting in New Delhi, Goyal unveiled a seven-point action agenda aimed at accelerating export growth through coordinated efforts between the Centre, states and industry.

The target comprises approximately $530 billion in merchandise exports-reflecting a growth of 16-17 per cent-and $470 billion in services exports, marking an 11-12 per cent increase.

The minister emphasised that while ambitious, the goal remained achievable given early momentum.

During the April-June quarter, merchandise exports grew by 15 per cent year-on-year and services exports by 11 per cent.

India's export performance builds on a record $863 billion achieved in FY26, despite global uncertainties triggered by tariff disruptions and geopolitical tensions.

Merchandise exports stood at approximately $442 billion while services exports crossed $421 billion.

Goyal credited the resilience of Indian exporters, market diversification and reforms undertaken under Prime Minister Narendra Modi's leadership for the strong showing.

The minister urged industry and states to leverage free trade agreements that India has signed, including those with the European Free Trade Association countries, Oman and the soon-to-be-implemented pact with the United Kingdom, which is expected to become operational from 15 July.

He noted that the UK represents a significant market, importing approximately $900 billion worth of goods annually-twice India's total exports-with 99 per cent of Indian goods receiving zero-duty access under the trade agreement.

Goyal also announced a 90-day export drive under the Districts as Export Hubs initiative, covering 120 priority districts across 27 states and union territories.

The minister highlighted the government's Rs 25,000-crore Export Promotion Mission, jointly implemented by the Ministries of Commerce, MSME and Finance, which would support small and medium enterprises in obtaining international certifications, meeting regulatory requirements and accessing overseas markets.