Deepening Trade Ties, FTA Utilisation Key To $1 Trillion Exports Target: CII's Budhia

Deepening engagement with existing trading partners, diversifying into emerging markets, and maximising the utilisation of free trade agreements will help India achieve its $1 trillion export target this fiscal, Sanjay Budhia, Chairman of the CII National Committee on Exports, said on Tuesday.

The commerce ministry has set an ambitious target of $1 trillion in exports for 2026–27, comprising about $530 billion in merchandise and $470 billion in services exports.

In 2025-26, India's goods and services exports reached an all-time high of $863.1 billion ($441.8 billion merchandise and $421.3 billion services).

To achieve the target, total exports will need to grow by 15.86%, with merchandise exports requiring growth of 19.96% and services exports by 11.56%, he said.

"To achieve this goal, it will be important to deepen engagement with existing partners, diversify into new and emerging markets, and maximize the utilization of trade agreements concluded by the government," Budhia, who is also Managing Director of Patton International, said.

India's key trading partners include the US, China, the UAE, Russia, Saudi Arabia, Singapore, Germany, Indonesia, and the Netherlands.

To provide greater market access to domestic products, India has finalised trade pacts with the European Union, the UK, Oman, the UAE, Australia, EFTA bloc, and New Zealand.

Patton is a government recognised export house having eight modern manufacturing plants in West Bengal. It employs more than 3,500 people.

It is a global value chain partner of the top conglomerates such as ABB, EATON, and Emerson.

The company manufactures high precision engineering components.

On August 28, Patton International Ltd was conferred with the prestigious Eaton Global Supplier Excellence Award 2026 for outstanding performance in quality, delivery, innovation and operational excellence.

"The award reflects the dedication of our team and reinforces our commitment to world-class quality, innovation and customer satisfaction," Budhia added.