India Sets Target of 10% Share in Global Goods Exports by 2047, Informs WTO Trade Policy Review

Government outlines export goals, trade reforms, and WTO policy priorities during India's 8th Trade Policy Review.

India has set a target to increase its share of global merchandise exports to 10% by 2047, up from 1.8% in 2024, according to information submitted to the World Trade Organization (WTO) during its Trade Policy Review. The review covers the period from 1 January 2021 to 31 December 2025.

India has informed the World Trade Organization (WTO) that it aims to raise its share of world merchandise exports to 10% by 2047, compared with 1.8% in 2024, as part of the Viksit Bharat 2047 mission.

The information was presented during India's Trade Policy Review, which covers the period from 1 January 2021 to 31 December 2025.

On WTO reform, India reiterated its position that the organisation should remain development-centred, consensus-based, and member-driven. It also called for the restoration of a standing, independent, and binding two-tier dispute settlement system, including the immediate restoration of the Appellate Body, which has remained non-functional since December 2019.

The government stated that achieving the Viksit Bharat 2047 vision of transforming India into a $30–35 trillion economy with over $10 trillion in exports will require addressing structural challenges, including high trade costs, regulatory complexity, infrastructure gaps, and barriers to deeper global integration.

According to the review, administrative and procedural reforms aimed at improving the ease of doing business, strengthening the business environment, enhancing productivity, and reducing reliance on trade-restrictive measures could support more efficient resource allocation and improve competitiveness.

During the review period, the government introduced measures to make the economy more outward-oriented and promote exports. These included maintaining various duty exemption, tax refund, and rebate schemes. India also expanded the geographical reach and depth of its regional trading agreements (RTAs), according to the WTO Secretariat's report.

The review noted that all WTO members' trade policies are examined at regular intervals based on their share of world trade. For India, this review is conducted every five years, and the 8th review is scheduled from July 21 to July 23.

The official delegation for the review is led by Commerce Secretary Rajesh Agrawal. In his opening statement at the review, the secretary said that despite a challenging global environment, India has remained the world's fastest-growing major economy, achieved record exports, accelerated digital transformation, strengthened innovation, improved the ease of doing business, and expanded opportunities for trade and investment.

The Trade Policy Review is based on two principal documents: a policy statement submitted by the member under review (government report) and a report prepared by the WTO Secretariat, which is circulated to all members.