Navigating Global Trade: India's Strategic Moves Amidst Geo-Political Challenges

Union Minister Piyush Goyal's meet with Export Councils focused on India's record exports, ongoing bilateral trade talks, and strategies for overcoming global trade challenges. The discussions aimed at ensuring India remains a competitive player while exploring opportunities for growth amid geopolitical uncertainties.

Union Minister of Commerce and Industry, Piyush Goyal, engaged with the Export Promotion Councils and various industry stakeholders in New Delhi on Wednesday to assess the evolving international trade landscape. The gathering aimed to address the impacts and opportunities stemming from current global dynamics, with a focus on governmental initiatives to bolster trade.

In a noteworthy achievement, India's exports reached an unprecedented USD 820 billion for the fiscal year 2024-25, marking a 6% increase from the previous year. Despite numerous challenges like the tensions in the Middle East and the ongoing Russia-Ukraine conflict, Goyal praised exporters for their perseverance and adaptability. He also updated them on continuing discussions with the US regarding a Bilateral Trade Agreement, initiated by Prime Minister Modi and former President Trump.

The minister pledged to create a favorable environment for exporters to thrive amidst global trade changes. Stressing a strategic yet careful approach, Goyal highlighted India's potential to attract major global supply chain players by enhancing manufacturing and employment opportunities. He called on exporters to remain optimistic, underlining India's status as a predictable and reliable business partner.

(With inputs from agencies.)