New Delhi, May 7: Commerce and Industry Minister Piyush Goyal held a significant meeting on Thursday with officials from the Department of Commerce (DOC) and the Department for Promotion of Industry and Internal Trade (DPIIT). The discussions focused on strategies to enhance the global expansion of Indian businesses.
According to the minister, the conversation centered on promoting exports and investments, opening opportunities for aspiring exporters, and establishing a foothold in new global markets.
In a post on the social media platform X, the minister mentioned that measures to increase global access for Indian businesses, strengthen export promotion efforts, and enhance participation from industries across the country were also discussed.
Latest data compiled by the Ministry of Commerce indicates that despite uncertainties arising from the U.S. tariff disputes and geopolitical tensions, India’s total goods and services exports grew by 4.6% during the fiscal year 2025-26, reaching a record $863.11 billion, up from $825.26 billion in the previous fiscal year.
Merchandise exports saw a modest increase of 0.93%, rising from $437.70 billion in 2024-25 to $441.78 billion. This growth occurred in a challenging year marked by disruptions in shipping and uncertainties in foreign market demand.
Service exports, however, experienced a robust increase of 8.71%, reaching an all-time high of $421.32 billion in 2025-26, surpassing the previous year’s $387.55 billion. This surge reflects the ongoing global demand for India’s IT services, business solutions, and professional expertise.
Meanwhile, despite supply chain disruptions due to conflicts in the Middle East and uncertainties in global markets, total exports during the first three weeks of April saw an increase of over 20% compared to the same period last year.
The statement noted that significant growth was recorded in the exports of key products such as petroleum products and electronic goods during the period from April 1 to 21.
With major companies like Apple establishing manufacturing units in the country, India has emerged as a leading exporter of electronic goods.
Goyal emphasized that there has been a rise in exports during the first three weeks of April. Despite the ongoing conflict in West Asia, domestic exporters are showing tremendous enthusiasm.
Leave a Comment