Piyush Goyal Promises Support for Indian Exporters Amidst Global Trade Challenges

Commerce Minister Piyush Goyal has announced upcoming government measures to support Indian exporters facing challenges due to new tariffs imposed by the US. He reassured the industry of full backing in navigating these uncertainties and emphasized the importance of diversifying export markets. With a record high of USD 825 billion in exports for 2024-25, Goyal expressed confidence that this year will see even greater achievements. The government is committed to enhancing domestic consumption and exploring new global opportunities to ensure sustained growth in exports.

By Narendra Chaudhary Aug 29, 2025, 15:33 IST

Government's Commitment to Boost Exports

New Delhi: On Friday, Piyush Goyal, the Minister of Commerce and Industry, announced that the government will soon unveil a series of initiatives aimed at enhancing both domestic outreach and international trade, with the goal of increasing exports.

He reassured exporters that they would receive full support in navigating the current global trade uncertainties, which have arisen due to the imposition of high tariffs.

Since August 27, the United States has enforced a significant 50% tariff on Indian imports, which is anticipated to adversely affect exports in labor-intensive industries such as textiles, leather, footwear, and shrimp.

"The government is dedicated to ensuring that exporters do not encounter undue stress or challenges due to these unilateral actions," Goyal stated during an industry event.

He encouraged industry leaders to identify sectors that might be affected by these tariffs and require alternative markets.

"Our ministry is actively reaching out globally to explore new opportunities and is also focused on boosting domestic consumption. You can expect a GST council meeting next week to address these changes swiftly, providing a demand boost to the domestic manufacturing sector," he added.

The government is consulting with various stakeholders, including Indian missions abroad, to diversify export markets.

"I assure you that in the near future, we will introduce a range of measures to support every sector, enhancing domestic outreach and seeking complementary markets worldwide to ensure our exports surpass last year's figures," Goyal emphasized.

"This year will be pivotal for our self-confidence," he remarked.

In the fiscal year 2024-25, India's goods and services exports reached a record high of USD 825 billion.

Goyal noted that India's share in the global export market remains low, suggesting that there is no need for excessive concern regarding global trade uncertainties.

He expressed India's readiness to engage in favorable trade agreements, stating, "If anyone attempts to discriminate against us, we will stand firm, as India's 1.4 billion population embodies self-confidence and self-respect. Together, we will continue to progress and capture new markets. I am confident that our exports this year will exceed those of last year."

He also acknowledged that India is an import-dependent economy but highlighted the country's resilience in overcoming past crises, including the COVID-19 pandemic and nuclear sanctions.