Commerce Minister Piyush Goyal said that India will resist trade discrimination, expand FTAs, and boost exports despite US tariffs.
New Delhi
Union Commerce Minister Piyush Goyal on Friday affirmed that India will stand firm against unfair treatment and safeguard the dignity of its 140 crore citizens. His comments followed the United States’ recent move to impose a 50% tariff on a broad range of Indian exports, effective August 27.
Speaking at the curtain raiser of Bharat Buildcon, Goyal emphasized that India will not bow down in the face of discrimination. He assured exporters that the government is actively working to open new opportunities by finalizing free trade agreements (FTAs) with key partners, including the European Union and Oman. He noted that India has already signed agreements with advanced economies like the United Kingdom and is expanding discussions with Australia, Saudi Arabia, and others.
Goyal expressed confidence that India’s exports this year will exceed last year’s performance, underscoring the country’s potential to capture larger shares of the global market. He said exporters remain supportive, and no major complaints have been raised despite ongoing geopolitical tensions. According to him, India’s growing partnerships and resilient strategies will enable the country to build supply chains less reliant on external pressures.
He stressed that government ministries and the Reserve Bank of India are in constant dialogue with exporters to address challenges and assist them in exploring alternative markets. Goyal highlighted that India’s digital strength, manufacturing capabilities, and rising global confidence will ensure continued export growth, despite external hurdles.
He added the government will soon roll out measures to expand domestic demand and tap new global markets to boost exports, assuring full support to exporters facing US tariff challenges. The US tariffs, reportedly linked to India’s continued purchase of Russian oil, have particularly affected apparel, textiles, carpets, and furniture sectors.
