India’s exports will cross $ 825 billion figure this year, free trade agreement becomes a game Changer: Piyush Goyal
Commerce and Industry Minister Piyush Goyal Said that India’s exports would jump this year to cross $ 825 billion. The reason for India’s exports will be the free trade agreement. He said that free trade action with countries such as the United Arab Emirates (UAE), Australia and European Free Trade (EFTA) will help promote exports in the coming months. The Indo-EFTA trade agreement is expected to be implemented from October 1 this year. The minister said that the world trade is facing serious geopolitical challenges, but India has continuously emerged as the winner at such a time and the export of goods and services of the country will definitely cross $ 825 billion in 2025-26.
Fear of decline in global trade
Goyal said that some global agencies estimate that global trade will decline. He said that the world is going through serious geopolitical challenges. So this is a challenging time, but India has always emerged as the winner in a challenging time. We exported a record $ 825 billion in 2024-25. This year we hope to perform better. On the possibility of crossing the figures for the last financial year, he said that we will definitely be able to cross it.
He said that now (Prime Minister Narendra) Modi government is doing FTA with developed countries/regions like Australia, Britain, EFTA, European Union (EU), UAE, Oman, Peru and Chile. Goyal said that here we cooperate, there is no competition. So we are doing FTA with well thought out strategy.
Support will also be available from service sector
According to an estimate by the federation of Indian export organizations (Fio), the country’s overall goods and service exports are expected to increase by more than 21 percent to US $ 1000 on an annual basis. Fio Chairman S.C. Ralhan said that this good growth has been possible due to international buyers’ desire to diversify their sources in view of global economic uncertainties.
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