India has recorded a six per cent increase in exports in the first five months of the current financial year, Commerce and Industry Minister Piyush Goyal announced, expressing optimism that the year will end “on a positive note” despite international headwinds.
According to the minister, India’s export performance reflects growing momentum powered by both internal strength and external engagement. Our correspondent reports that Goyal highlighted ongoing negotiations for Free Trade Agreements (FTAs) with a number of countries including the European Union (EU), United States, New Zealand, Chile, Peru, and Oman.
He praised India’s fast-moving trade diplomacy, referring to the India–UAE FTA as “the world’s fastest-growing FTA,” which was negotiated, finalised, and signed in just 88 days. Since its implementation, exports to the UAE have seen rapid growth. Our correspondent adds that Goyal said this FTA acts as a gateway for broader trade opportunities in the Gulf, Africa, and parts of Eastern Europe.
Addressing media, Goyal traced India’s economic journey—from a USD 4 trillion economy towards a USD 30-trillion plus ambition—saying that structural reforms and growing investors’ confidence have positioned the country favorably in global trade. He said sectors like textiles, marine products, leather, pharmaceuticals are expected to benefit from expanded market access under upcoming trade pacts.
Goyal also asserted that trade talks with several nations have “advanced significantly”. In particular, discussions with the EU are moving ahead, with both sides working to address remaining issues such as non-tariff barriers, standards, and agriculture access. Our correspondent reports that the EU’s commission for trade and agriculture has engaged in recent rounds of talks in New Delhi, pushing to finalize key clauses by year-end.
Despite challenges such as global supply chain disruptions, tariff pressures, and shifting trade regulations, the minister maintained that India’s export growth is steady and broadly diversified. He underscored that the country’s macroeconomic fundamentals remain strong.
Observers note that for Indian exporters, the progress in FTAs is crucial for sustaining export growth in the medium term—especially as established markets become more competitive and regulatory scrutiny increases.
