India Achieves Record $820 Billion in Exports Amid Global Trade Challenges
On Wednesday, Union Commerce Minister Piyush Goyal lauded Indian exporters for achieving a historic milestone of over $820 billion in total exports for the financial year 2024-25, marking a nearly 6% year-on-year growth. In a meeting with Export Promotion Councils (EPCs) and industry bodies, Goyal emphasized that the government is actively working to navigate recent global trade disruptions, including reciprocal tariffs imposed by the US.
Goyal assured the industry that the government is acting swiftly but cautiously to protect national interests, especially in light of evolving global trade dynamics. He encouraged exporters to focus on the opportunities emerging from the current scenario, noting that India remains a trusted and reliable trade partner. The minister highlighted ongoing efforts to finalize a balanced and beneficial Bilateral Trade Agreement (BTA) with the United States, initiated during Prime Minister Narendra Modi’s meeting with former President Trump on February 13, 2025.
The minister also noted that the 26% additional tariff imposed on India by the US is relatively lower than those imposed on competitors like China and Vietnam, potentially positioning India advantageously in global supply chains. Despite international headwinds such as the Red Sea crisis, the Israel-Hamas conflict, and the ongoing Russia-Ukraine war, Indian exporters have shown resilience and adaptability, contributing to the country’s record-breaking export performance.
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