Despite global turbulence, India will be in positive territory on the exports front in H1FY26: Commerce Minister Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal

The government is committed to expand international trade so much so that despite all the global turbulence, the country will be in positive territory on the exports front, both in goods and in services, in the first six months of the current financial year, said Union Commerce Minister Piyush Goyal.

Global turbulence includes increasing trade fragmentation due to protectionist policies, geopolitical tensions, volatility in global financial markets, frequent weather-related disturbances and supply chain disruptions.

“While final (trade) figures will be out next week, we are in positive territory in exports…with an aggregate growth of between 4 per cent and 5 per cent over the last six months. That is India’s resilience. …I think the country today is at an inflection point, with strong macroeconomic fundamentals, expanding our trade relations with developed countries around the world, focusing on empowering customers with high quality and low taxes,” Goyal said in his address at the Global Fintech Fest.

He emphasised that the world cannot find a better place than India, with trusted partnerships and the resilience of a 500-gigawatt national integrated grid, with 24-hour renewable energy available at under 8 or 9 cents a kilowatt hour for data centres, for applied artificial intelligence to be developed, for growth of the most modern technologies for the rest of the world.

Huge potential

“Our diplomacy today rests on strong ties with different countries and I can assure that the way forward is pregnant with possibilities. The way forward holds huge promise, huge potential, huge opportunities,” he said.

Goyal observed that in the world of finance, trust is the only currency that never depreciates, it only appreciates.

“Eleven of years of transformational initiatives, bold policies, structural reforms has in a way demonstrated to the world that India is growing at almost 9-9.5 per cent in US dollar terms, year on year, doubling its GDP every 7.5 or 8 years. And figures speak for themselves. When we aspire to be a $30-35 trillion economy by 2047, our friends from the finance world can quickly do the math. And you will see that achieving this is very much in the realm of possibility, is very much something that we are all collectively committed to achieve,” the Minister said.

Published on October 8, 2025