Govt develops export monitoring framework to meet FY31 $2 trillion export target

New Delhi: The Department of Commerce has developed a structured Export Monitoring Framework which breaks down the national target into sector-wise actions across engineering goods, textiles, electronics, pharmaceuticals, chemicals and services for India to reach its target of $2 trillion of goods and services exports by 2030-31, the government said Wednesday.

The achievement of the target will be based on key pillars- clearly defined and actionable points, classified as supply-side or demand-side linked to key performance indicators and aligned with short, medium and long-term timelines, the commerce and industry ministry said in a statement.

The issues were taken up at a high-level review meeting chaired by commerce and industry minister Piyush Goyal to deliberate on the Plan of Action for achieving India’s $2 trillion export target by 2030–31 and to review the implementation of the Export Promotion Mission (EPM).


“He also emphasised the importance of inter-departmental coordination, with supporting ministries and departments identified for each task to ensure effective resolution of exporter-related issues,” the ministry said.

Goyal highlighted the need for an IT-enabled monitoring platform to facilitate regular tracking of progress, with an automated escalation mechanism for review at the levels of secretary and minister.

India’s merchandise exports in FY26 were up 0.93% at $441.78 billion, as compared to $437.7 billion in FY25.

“The minister further directed that, in consultation in consultation with the concerned line Ministries, priority sectors be identified where a clearly defined import substitution strategy can be pursued alongside efforts to boost exports,” it said.

Goyal also underscored the importance of strengthening ‘Brand India’ as an overarching umbrella for India’s export promotion efforts across sectors and markets.