Piyush Goyal Urges Exporters to Take Long-Term View of India-US Trade Ties
Union Minister for Commerce and Industry, Piyush Goyal, recently hosted a high-level meeting with attendees from different Export Promotion Councils and industry organizations to address the changing global trade scenario and how it affects the export sector in India. Discussion centered around the emerging opportunities as well as issues, especially concerning India-US trade relations.
The meeting was called to update stakeholders on the government's ongoing efforts to negotiate a mutually advantageous multi-sectoral Bilateral Trade Agreement (BTA) with the United States. Goyal stressed the need to keep a long-term strategic perspective on India-US economic relations while taking commercial decisions.
Had an extremely fruitful meeting with stakeholders from different Export Promotion Councils and Industry Associations. Discussions centered on informing stakeholders about the current talks with the US for a mutually favorable multi-sectoral BTA," Goyal stated.
The exporters were requested to be visionary and tough against the backdrop of global uncertainties, which also include the crisis in the Red Sea, the Israeli-Palestinian war, and ongoing geopolitical tensions within Eastern Europe.
Goyal complimented the export community on recording a record export of over $820 billion in FY 2024-25, showing a growth of 6% over the last fiscal year, despite heavy headwinds from across the world. He assured the industry of the government's resolve to giving a favorable environment for the growth of trade and business.
Several Export Promotion Councils, comprising diverse industries, also expressed their grievances and demanded support from the government to act proactively. Some of the prime concerns were policy stability, quicker trade facilitation, and assistance to sail through the turbulent global trading environment.
Goyal wound up stating that the proactive approach of the government in formulating trade-friendly policies and projecting India in the global export map was once again reiterated.
