Commerce and Industry Minister Piyush Goyal on Wednesday held consultations with exporters, industry bodies and export promotion councils to discuss measures aimed at boosting India’s outbound shipments, expanding market access through free trade agreements (FTAs), and enhancing the country’s position in global value chains.
The meeting brought together representatives from various Export Promotion Councils (EPCs) and industry associations to review strategies for strengthening India’s export ecosystem, accelerating market diversification, and improving global trade competitiveness.
Following the discussions, Goyal said the deliberations focused on strengthening support for micro, small and medium enterprises (MSMEs), maximizing opportunities arising from FTAs, fostering innovation and deep-tech capabilities, improving export facilitation, and expanding India’s participation in global value chains.
During the meeting, several export promotion councils presented updates on sector-specific export performance and progress against key performance indicators (KPIs). The Directorate General of Foreign Trade (DGFT) has proposed a four-pillar KPI framework covering export performance, market diversification, exporter ecosystem development, and policy facilitation.
According to industry officials, export councils will be required to report metrics such as the number of new exporters onboarded, capacity-building programmes conducted, and participation in international trade engagements as part of the performance monitoring framework.
The discussions come amid a strong recovery in India’s export sector. India’s merchandise exports rose 18 per cent year-on-year to a six-month high of USD 45.2 billion in May. However, imports also increased, resulting in a wider trade deficit of USD 28.21 billion during the month.
For the April-May period of FY2026-27, exports increased 16.09 per cent to USD 88.91 billion, while imports grew 15.14 per cent to USD 145.35 billion. The country’s trade deficit during the two-month period stood at USD 56.44 billion.
The government has been actively pursuing new trade agreements and export promotion initiatives as part of its broader strategy to diversify markets, enhance manufacturing competitiveness, and achieve higher export growth in the coming years.
