Piyush Goyal targets $1 trillion exports as Denmark deepens trade ties with India

Union Commerce and Industry Minister Piyush Goyal has expressed confidence that India’s total exports will reach $1 trillion in the current financial year, backed by strong trade momentum and expanding international partnerships. Speaking at Kirori Mal College in New Delhi, Goyal pointed out that exports grew by 14 per cent in the first six months to reach $480 billion.

India recorded its highest-ever exports of $863 billion in the previous financial year and set a 16 per cent growth target for the current year. Reaching the $1 trillion mark will require securing $520 billion in exports over the second half of the year, a target Goyal described as achievable following encouraging figures in October.

The minister attributed India's economic resilience and standing as the world's fastest-growing major economy to decisive national leadership, a young population with an average age below 30, and robust internal demand from 140 crore citizens. He noted that international interest in signing free trade agreements with New Delhi reflects growing global confidence in India's industrial and trade capabilities.

Deepening green and trade ties with Denmark

India's expanding trade footprint was also evident during a two-day visit by Danish Business Minister Martin Lidegaard to Mumbai and New Delhi. Lidegaard met Goyal to discuss expanding trade and investment against the backdrop of ongoing negotiations for the India-European Union free trade agreement.

More than 200 Danish companies currently operate in India, employing over 100,000 people. Denmark is working with Indian authorities to advance the bilateral Green Strategic Partnership established in 2020, with a focus on offshore wind, green shipping, and artificial intelligence.

Lidegaard also held talks with Union Ports and Shipping Minister Sarbananda Sonowal on green shipping corridors and met Union Renewable Energy Minister Pralhad Joshi while attending the Bharat Renewable Energy Summit & Expo 2026. Denmark remains the second-largest government contributor to the International Solar Alliance outside India.

Strengthening the biopharma ecosystem

Alongside bilateral trade talks, Goyal chaired a high-level roundtable at Vanijya Bhawan focused on expanding India's bioeconomy and supporting biopharma startups. The meeting, organized by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with NITI Aayog, brought together industry leaders and policymakers.

Discussions centred on introducing faster regulatory approvals, setting up a regulatory sandbox, establishing single-window clearances, and rolling out shared laboratory infrastructure under the Biopharma SHAKTI initiative announced in the Union Budget. Goyal called for time-bound execution to help life sciences startups scale up domestic manufacturing and lower clinical trial costs.