Government Plans Measures to Shield Export Sector: Goyal
Government to counter US tariffs, boost exports globally.
Commerce and Industry Minister Piyush Goyal announced on Friday that the government is poised to roll out a series of measures to bolster India’s export sector, aiming to expand both domestic demand and global market presence. Speaking at an industry event, Goyal addressed the challenges posed by the recent 50% tariff hike imposed by the United States on Indian goods, effective August 27, 2025, which threatens labor-intensive sectors like textiles, leather, footwear, and shrimp.
“The government is fully committed to ensuring our exporters face no undue stress from unilateral actions,” Goyal assured, emphasizing proactive steps to mitigate the impact of global trade uncertainties. He urged industry leaders to identify sectors hit hardest by the US tariffs and highlight alternative markets for diversification. The Commerce Ministry is actively engaging with Indian Missions abroad to explore new opportunities and capture untapped markets.
Goyal revealed that the upcoming GST Council meeting, scheduled for next week, will introduce measures to stimulate domestic consumption, providing a rapid boost to manufacturing. “We are working tirelessly to support every sector, both domestically and globally, to ensure our exports surpass last year’s record of USD 825 billion,” he stated, exuding confidence in India’s economic resilience.
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Despite global trade challenges, Goyal downplayed concerns, noting that India’s share in the global market remains low, offering ample room for growth. “We don’t need to worry excessively about global uncertainties. If a country seeks a fair trade pact, we’re ready, but we will never bow to discriminatory actions,” he declared, underscoring India’s self-confidence and 140-crore-strong population as drivers of progress.
The minister highlighted India’s history of navigating crises, such as the Covid-19 pandemic and nuclear sanctions, as evidence of its capability to overcome current trade hurdles. He emphasized ongoing consultations with stakeholders to diversify exports, targeting complementary markets worldwide. “This year will define our self-confidence as we capture new markets and exceed last year’s export figures,” Goyal asserted.
India’s import-dependent economy, Goyal noted, is well-positioned to leverage free trade agreements (FTAs) with countries like Australia, the UAE, and the UK, with negotiations progressing with the EU. These efforts, combined with a focus on quality through Quality Control Orders, aim to establish India as a trusted global supplier, particularly in high-potential sectors like steel and construction materials.
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