Piyush Goyal Discusses Strategies to Strengthen India's Export Growth Amid Global Challenges

The meeting focused on the current challenges in international trade and explored potential opportunities for Indian exporters amid a volatile global environment.

Union Minister of Commerce and Industry, Shri Piyush Goyal, today held an important discussion with the Export Promotion Councils and various Industry Bodies in New Delhi to evaluate the emerging global trade scenario. The meeting focused on the current challenges in international trade and explored potential opportunities for Indian exporters amid a volatile global environment.

The Commerce Minister began the session by acknowledging the remarkable achievement of Indian exporters, who have collectively reached an all-time high in exports, crossing USD 820 billion in the fiscal year 2024-25. This growth represents a near 6% increase over the previous fiscal year, despite facing numerous global headwinds. These challenges include the ongoing Israel-Hamas conflict spilling over into the Gulf region, the protracted Russia-Ukraine war, and sluggish economic growth in some developed countries. Minister Goyal praised the resilience and perseverance of Indian exporters, commending their contributions to the country's robust export performance during such turbulent times.

Further during the session, Shri Goyal updated the exporters on the ongoing negotiations with the United States regarding a new multi-sectoral Bilateral Trade Agreement (BTA). The groundwork for this deal was laid by Prime Minister Narendra Modi, who made significant strides in diplomatic discussions with President Donald Trump in February 2025. Minister Goyal highlighted that these talks are being driven by a long-term vision aimed at strengthening trade ties between the two countries, benefiting both sides in terms of trade, investment, and economic cooperation.

The Commerce Minister reassured exporters that the government is committed to fostering an environment conducive to navigating the shifting dynamics of global trade. He emphasized that the government is actively working to explore solutions that align with India's national interests. Goyal called for calm and advised exporters to focus on the potential opportunities rather than panic in the face of emerging challenges. He further stressed that the government’s team negotiating the BTA is working with both urgency and caution, ensuring that the final agreement would be beneficial for India’s long-term growth.

In addition to trade agreements, the Minister touched on India's ability to adapt to global tariff impositions in a unique way. He explained that while countries are approaching tariff increases differently, India is positioning itself as a reliable and predictable player in the global supply chain. This approach not only boosts India’s attractiveness to multinational corporations but also opens avenues for expanding manufacturing and creating jobs. India's success as a trusted partner, along with its favorable business climate, continues to enhance its position on the world trade map.

Various Export Promotion Councils representing diverse sectors participated in the discussions and provided valuable insights into the challenges faced by exporters in light of the global uncertainties. Many councils requested proactive measures from the government to safeguard and support the export sector during this challenging period. The Minister assured that the government is fully committed to taking the necessary steps to ensure sustained export growth and help exporters overcome obstacles posed by the volatile global trade environment.

The meeting was attended by a diverse range of stakeholders, including representatives from Export Promotion Councils, Industry bodies, and officials from various ministries within the government of India. With a focus on innovation, strategic diplomacy, and support for the export industry, the discussions marked an important step towards ensuring India's continued success in global trade.

As India’s export sector faces a new era of challenges and opportunities, the government’s proactive approach under the leadership of Commerce Minister Piyush Goyal promises to navigate these turbulent times, securing growth, stability, and resilience for Indian businesses on the world stage.