India’s Exports Expected to Grow 6 Per Cent This Year
ECONOMY & POLICY

India’s Exports Expected to Grow 6 Per Cent This Year

Union Commerce Minister Piyush Goyal on Wednesday stated that India’s exports are expected to grow by around 6 per cent this year, ultimately concluding on a positive note.
“India’s exports would grow by around 6 per cent this year compared to the corresponding period last year. I believe we will end the year on a positive note,” Goyal said in Mumbai.
His remarks come amid concerns over the United States’ plan to impose a 50 per cent tariff on Indian goods, including a 25 per cent duty on imports linked to Russian oil.
In FY25, India’s exports reached a record $824.9 billion, up 6.01 per cent from $778.1 billion in the previous year. Outbound shipments rose 6.7 per cent year-on-year to $35.1 billion in August, despite steep US tariffs.
Goyal added that discussions on free trade agreements (FTAs) are advancing with several countries, while domestic consumption continues to support growth.
“With the European Union, we had productive discussions in the last round. Their agriculture and trade commissioners visited Delhi, and the talks made rapid progress. Another virtual or physical round may follow soon,” he said.
The EU, India’s largest trading bloc partner in goods, recorded bilateral trade of $137.5 billion in FY24, nearly a 90 per cent increase over the past decade. The bloc is seeking significant duty reductions on vehicles, medical devices, wine, spirits, and dairy products, while India is pressing for greater access for its textiles, pharmaceuticals, steel, and petroleum products, according to an EU official. Talks were held last week in New Delhi. Separately, the European Commission announced its new “strategic agenda,” covering security, trade, technology, space, and migration, while exploring the creation of an EU-India Security and Defence Partnership.
On India’s trade pact with the United Arab Emirates (UAE), Goyal described it as the fastest free trade agreement concluded globally. He noted that the UAE acts as a gateway to Africa, the Gulf, and Eastern Europe and remains a key trading partner.
“There is significant investment interest from the UAE into India. I am confident this partnership will strengthen further,” he said. He added, “India’s growing strength and the journey from a $4 trillion economy to a $30 trillion-plus economy during Amritkal show that India is the place to do business. The world wants to work closer with India.”
On employment, Goyal stated: “We have recently reported the lowest unemployment rate at 5.1 per cent. While some highlight unemployment concerns, companies such as Larsen & Toubro have informed me they struggle to complete projects on time due to labour shortages. Even L&T’s IT subsidiary is actively seeking staff.”
The latest Periodic Labour Force Survey (PLFS) data indicates a declining jobless rate, supported by the start of the sowing season following a stronger-than-normal monsoon.

Union Commerce Minister Piyush Goyal on Wednesday stated that India’s exports are expected to grow by around 6 per cent this year, ultimately concluding on a positive note.“India’s exports would grow by around 6 per cent this year compared to the corresponding period last year. I believe we will end the year on a positive note,” Goyal said in Mumbai.His remarks come amid concerns over the United States’ plan to impose a 50 per cent tariff on Indian goods, including a 25 per cent duty on imports linked to Russian oil.In FY25, India’s exports reached a record $824.9 billion, up 6.01 per cent from $778.1 billion in the previous year. Outbound shipments rose 6.7 per cent year-on-year to $35.1 billion in August, despite steep US tariffs.Goyal added that discussions on free trade agreements (FTAs) are advancing with several countries, while domestic consumption continues to support growth.“With the European Union, we had productive discussions in the last round. Their agriculture and trade commissioners visited Delhi, and the talks made rapid progress. Another virtual or physical round may follow soon,” he said.The EU, India’s largest trading bloc partner in goods, recorded bilateral trade of $137.5 billion in FY24, nearly a 90 per cent increase over the past decade. The bloc is seeking significant duty reductions on vehicles, medical devices, wine, spirits, and dairy products, while India is pressing for greater access for its textiles, pharmaceuticals, steel, and petroleum products, according to an EU official. Talks were held last week in New Delhi. Separately, the European Commission announced its new “strategic agenda,” covering security, trade, technology, space, and migration, while exploring the creation of an EU-India Security and Defence Partnership.On India’s trade pact with the United Arab Emirates (UAE), Goyal described it as the fastest free trade agreement concluded globally. He noted that the UAE acts as a gateway to Africa, the Gulf, and Eastern Europe and remains a key trading partner.“There is significant investment interest from the UAE into India. I am confident this partnership will strengthen further,” he said. He added, “India’s growing strength and the journey from a $4 trillion economy to a $30 trillion-plus economy during Amritkal show that India is the place to do business. The world wants to work closer with India.”On employment, Goyal stated: “We have recently reported the lowest unemployment rate at 5.1 per cent. While some highlight unemployment concerns, companies such as Larsen & Toubro have informed me they struggle to complete projects on time due to labour shortages. Even L&T’s IT subsidiary is actively seeking staff.”The latest Periodic Labour Force Survey (PLFS) data indicates a declining jobless rate, supported by the start of the sowing season following a stronger-than-normal monsoon.

Next Story
Equipment

Liebherr Cranes Brave Harsh Seas for Ytre Steinsund Bridge

Four Liebherr high-top cranes are playing a vital role in constructing the Ytre Steinsund Bridge along Norway’s rugged coastline. The cranes’ robust technology and adaptable design are enabling safe and efficient operations despite harsh winds, strong waves, and tight project timelines. The Ytre Steinsund Bridge, now under construction in western Norway, is set to be completed by the end of 2026. Once operational, the cantilever bridge will enhance connectivity between coastal regions near Hardbakke. To meet the project’s demanding conditions along the Sognefjord, the construction team ..

Next Story
Infrastructure Urban

GREENEXT Expo 2025 Showcases Sustainability as a Business Driver

The GREENEXT Expo 2025 concluded successfully on September 27 at the Shanghai Exhibition Center, reaffirming its status as one of China’s most influential platforms for sustainability transformation. The two-day event positioned sustainability as a tangible business strategy, bringing together over 120 global enterprises and organisations, and attracting 5,022 attendees. Shanghai, September 27, 2025 – The 2025 edition of GREENEXT Expo, China’s leading greening and accelerator platform, focused on the pillars of Sustainability Innovation × Cross-Sector Collaboration × Business. The eve..

Next Story
Infrastructure Urban

Molecor to Showcase PVC-O Innovation Journey at Upcoming Conference

Molecor, a global leader in Oriented PVC (PVC-O) pipe technology, will host a conference titled “The PVC-O Innovation Journey” on October 10 at 10:30 AM in Room 5 of the CCD South. The session will highlight the company’s latest technological advancements and its continued leadership in sustainable water infrastructure solutions. Molecor invites attendees to explore the latest developments in PVC-O technology during its conference “The PVC-O Innovation Journey”. The event will be led by Ignacio Muñoz, Founder and CEO of Molecor, who will unveil SilkWorm®, the first complete system..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?