Piyush Goyal Confident in India’s Export Growth Amid US Tariff Challenges
New Delhi: Commerce and Industry Minister Piyush Goyal on Saturday expressed confidence that India’s exports will register positive growth in 2025-26 despite global uncertainties arising from US tariffs.
He said the country’s exports of goods and services registered growth in the first six months (April-September) of this financial year.
It grew by approximately 5 percent to $413.3 billion during April-September 2025-26. India’s goods shipments also increased by 3 percent to $220.12 billion in the same period.
“There is resilience, there is confidence, there is demand for our goods and services across the world and India will continue on this growth trajectory and we are confident that we will end the year 2025-26 with a positive growth in India’s exports,” he told reporters here.
Customs duties imposed by the USA disrupted global supply chains. This also affected India’s exports to the US, which fell by nearly 12 percent in September.
Talking about the benefits of the recent cut in GST rates, he said overseas FPI in September fell to less than $900 million from around $4 billion in August.
“As soon as the GST announcement came, investors immediately realized that it was a gain. Demand will increase substantially,” Goyal said.
When asked if some e-commerce companies are passing on the benefits of GST cuts to consumers, the minister said normally all companies pass on these benefits and beyond that, they also announce cash bonuses and discounts.
“But if any site or platform does not pass on the benefits…consumer affairs (department) may take action…all sectors and businesses have assured me that all the benefits will be passed on to consumers,” he added.
