Exports to rise 6% this year, will end year on positive note: Union Minister of Commerce and Industry, Mr. Piyush Goyal

India’s exports are expected to grow by 6% in 2025, ending the year on a positive note despite global trade challenges, according to Union Minister of Commerce and Industry Mr. Piyush Goyal. Speaking in Mumbai, he said outbound shipments rose 6.7% YoY to US$ 35.1 billion in August, even as the United States imposed steep tariffs on Indian goods. In FY25, India’s exports touched a record US$ 824.9 billion, up 6.01% from US$ 778.1 billion in the previous year. He added that free trade agreements (FTAs) with several countries are advancing, supported by rising domestic consumption.
The European Union (EU), India’s largest goods trading partner, recorded bilateral trade of US$ 137.5 billion in FY24, nearly doubling over the past decade. Negotiations with the EU have made progress, with discussions on tariff reductions and greater market access for Indian exports such as textiles, pharmaceuticals, steel, and petroleum products. On India’s pact with the United Arab Emirates (UAE), he noted that it was among the fastest FTAs signed globally, positioning the UAE as a gateway to Africa, the Gulf, and Eastern Europe. He highlighted strong investment flows from the UAE and projected further growth in this partnership. He also added that India’s growing strength and the fact that we will be moving in the Amritkal from a US$ 4 trillion economy to a US$ 30 trillion-plus economy clearly show that India is the place to do business. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.