India eyes $2 trillion exports as Bharat Vyapar Mahotsav pushes 'Swadeshi' agenda: Piyush Goyal
New Delhi, May 18
Union Minister of Commerce and Industry Piyush Goyal on Monday said that India has set a target of achieving $2 trillion in exports in the next five years as part of its journey towards an 'Atmanirbhar Bharat', or self-reliant India.
Goyal was speaking at a two-day national conclave of trade leaders being held at Bharat Mandapam in New Delhi, organised by the Confederation of All India Traders (CAIT), where he launched a website for the Bharat Vyapar Mahotsav.
He expressed confidence that the Bharat Vyapar Mahotsav, set to begin in 86 days at Bharat Mandapam, would act as a platform to scale up indigenous goods, strengthen import substitution and expand India's presence in global markets. Goyal added that with 140 crore Indians united in the effort, "no force in the world can stop us" from reaching the goal of a developed India.
Bharat Vyapar Mahotsav is a Swadeshi fair programmed to showcase India-made goods and services. The event is being organised by the India Trade Promotion Organisation (ITPO) in partnership with the Confederation of All India Traders (CAT), with support from transport bodies, logistics firms, Swadeshi Jagran Manch and Laghu Udyog Bharati. Goyal said the fair would bring together a thousand businesses and focus on quality, packaging, branding and marketing to help Indian products compete internationally.
Goyal said India's exports had already risen to $863 billion this year, about 5% higher than last year, and the government had now raised the target to $1 trillion for the current year. He said the Commerce Ministry was working on free trade agreements with 38 countries, mostly developed economies, to give Indian exporters preferential access through lower import duties. He noted that Oman's FTA was expected to come into effect on June 1.
The minister stressed that the objective was not just to promote exports but also to reduce dependence on imports through import substitution. He pointed to sectors like capital goods, medical devices and value-added fisheries and agriculture, where Indian MSMEs in Rajkot, Ludhiana, Pune and Visakhapatnam were already building capability. Goyal said the government had expanded the MSME definition to include businesses with turnover up to ₹500 crore, while excluding export turnover so that firms could continue receiving benefits even as they scaled abroad.
Goyal urged the inclusion of women entrepreneurs and the next generation of traders in the fair, suggesting that 25 women entrepreneurs from each state be invited. He also proposed setting up 50-60 kiosks at the venue to promote RuPay cards and UPI payments, calling it a step towards a cashless Swadeshi economy. "If we do this, I believe it will energise a new way of thinking," he said.
He described Bharat Mandapam and Yashobhoomi in Dwarka as examples of Prime Minister Narendra Modi's vision to create world-class infrastructure that reflected India's capability. Goyal said every element of Bharat Mandapam, from the chairs made by Rajasthan artisans to the carpets from Kashmir, embodied the confluence of India's craftsmanship.
Goyal concluded that the government would act as a "kick-start" through schemes like PLI, but the long-term success of the program depended on industry and trade taking ownership. He said the 80th Independence Day in 2027 should serve as an opportunity to present a successful model of a self-sustaining India to the nation.
— ANI
Reader Comments
Loving the inclusion of women entrepreneurs - 25 from each state is a good idea. But cashless Swadeshi economy? People in rural areas still struggle with basic internet connectivity. Hope they focus on ground-level training and infrastructure first before pushing UPI everywhere. 🙏
Import substitution is great for strategic sectors like medical devices and capital goods. But don't forget - protectionism can backfire if we sacrifice quality. Indian products must stand up to international standards, not just rely on 'Made in India' pride. That's the real challenge.
Bharat Mandapam showcasing artisan chairs and Kashmiri carpets is beautiful symbolism. But the real test is whether our small towns - like Rajkot and Ludhiana - get the support to build brands that sell in Paris or Tokyo. FTAs with 38 countries sounds promising, but we need to see actual market access. 🙏🏼
Good speech by Goyal ji but execution matters more. MSME definition expansion to ₹500 crore is welcome - many small businesses thrive quietly. But where's the plan for logistics bottlenecks and red tape? We have the talent, just need smoother processes. Let's hope Bharat Vyapar Mahotsav delivers instead of being just another photo-op.
Finally, someone talking about quality, packaging and branding! Indian spices, textiles, and handicrafts have global demand but lose out due to poor presentation. If they get this right with proper branding support, we could capture niche markets. The 2027 Independence Day target is nice but let's start seeing results now.
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