Piyush Goyal: India’s Exports Stable Despite Global Disruptions, Services Lead Growth

Speaking in the Lok Sabha, Union Minister of Commerce and Industry Piyush Goyal said India’s trade remains resilient despite global disruptions. He noted that while merchandise trade saw some pressure due to rising freight costs and challenges around the Strait of Hormuz, exports have largely remained stable till February and are expected to hold in March. He highlighted strong growth in services exports and emphasised that India’s overall trade deficit remains manageable. Goyal also pointed to rising remittances, record FDI inflows, and upcoming free trade agreements as key drivers supporting India’s robust economic fundamentals and future export growth.