India Inc in ‘cosy, comfort zone’ courtesy large local market, not venturing out globally: Goyal

Union Trade Minister Piyush Goyal said on Saturday, August 30, 2025, that Indian enterprises are in a “comfortable comfort zone” created by the presence of an internal market of 1.4 billion people and have a global opportunity.

In the comments about the impact of high US tariffs on the Indian economy, he asked Mr. Goyal India Ins not to be moved by any “negative narrative” and reminded that the GDP growth rose to 7.8% in June.

Even if it was prepared for the impact of the tariff movements of the US, Mr. Goyal gave confidence that general exports would grow this year, and also pointed out that exports of 87 billion dollars of $ 87 billion were not affected by the tariff movements.

The high growth shown on Friday, August 29, 2025, did not surprise anyone in the government, Goyal Goyal said that performance was a “resistant response” to referees and pessimistic referees such as Lok Sabha, economists and opposition leader Rahul Gandhi in certain parts of the media.

“India flexibility is full of confidence and is to continue to be the fastest growing economy for the next 22 years. India will continue to give power. Our exports will continue to grow, this year we will export higher than last year and the future is extremely bright. PTI Videos On the edges of an event in Mumbai.

Speaking in the Indian-UAE business interaction organized by the industry lobby, Mr. Goyal admitted that the domestic market is one of the greatest driving forces of growth and that he also spoke sincerely about the role of the industry.

“I often feel that 1.4 billion large domestic market has become a comfortable comfort zone where our businesses make good profit and do not try to look at the opportunities in the world,” he said.

Mr. Goyal said that the amount of value added by the Indian industry is very low, how the country’s rice rice is a seller, but it is a high -quality steel exporter, but there is no high -quality steel exporter.

Mr. Goyal, referring to the fashion industry, where he does not have Indian clothes in High Street clothes, underlined the need for different marking India.

Prime Minister Narendra Modi said that he instructed both businesses and people “trust”, and said that the government was willing to work with the industry to solve any obstacles and will be willing to receive news from the businesses.

“Ask for help. Give us your support. Do not lose this opportunity. Press us on us,” he said to the captains of the industry.

On the effects of the US tariff, Mr. Goyal said President Donald Trump’s movement should not deterd us and everyone should ask everyone to pull their socks. The United States brought a 50% tariff to Indian goods that affect sectors such as textiles and clothes, jewels and jewels, shrimp, leather and others.

From the affected sectors, the ADD value made by the Indian ships and the jewelery sector has a minimum of 3% to 4%, but we need to work hard to minimize the impact of textile and shrimp exports.

Mr. Goyal said that after the US Tariff movement, he made a call with the industrialist Noel Tata, who operates popular Zudio and Westside chains, and demanded that the US tariffs were offered for sale in the local market until alternative markets were found.

Stating that India has always shone in trouble, Mr. Goyal added that the government is currently negotiating to diversify the trade basket and that 7.8% GDP growth should serve as a “moral strengthening”.

“Such people really harm the story of India. But I wish the Indian industry is not transported by this negative narrative.”

Mr. Goyal said that it is unfortunate to remind everyone that everyone does not understand their own homeland and pessimists, and that the export contribution is very low in India, which is a domestic -driven economy.

The authority confirmed the government’s commitment to reform and making everything necessary to encourage growth, and hoped that the decision from the GST Council meeting would be a “sane” to increase domestic demand.

“I can promise you, you will be extremely pleased after the GST Council meeting.”

Meanwhile, Speaking at the same event, UAE’s Foreign Trade Minister Thani bin Ahmed Al Zeyoudi made sure that the Gulf Nation and India would always be together regardless of the changes in the world trade order.

“No matter how the world and partners are dealing with each other, they change their policies and change their position against each other, and the UAE and India will always meet.”

Released – 31 August 2025 06:07 AM IST