According to Union Minister of Commerce and Industry Mr. Piyush Goyal, India’s exports are projected to rise by 6% in 2025, concluding the year positively despite challenges in global trade. While speaking in Mumbai, he mentioned that outbound shipments increased by 6.7% year-on-year to US$ 35.1 billion in August, despite the United States applying high tariffs on Indian products. In FY25, India’s exports reached a historic US$ 824.9 billion, increasing by 6.01% from US$ 778.1 billion the year before. He mentioned that free trade agreements (FTAs) with various nations are progressing, bolstered by increasing domestic consumption. The European Union (EU), India's top goods trading partner, achieved bilateral trade of US$ 137.5 billion in FY24, almost doubling in the last ten years. Discussions with the EU have advanced, focusing on reducing tariffs and improving market access for Indian exports like textiles, pharmaceuticals, steel, and petroleum products. Regarding India’s agreement with the United Arab Emirates (UAE), he pointed out that it ranked among the quickest FTAs established worldwide, establishing the UAE as a portal to Africa, the Gulf, and Eastern Europe. He emphasized significant investment inflows from the UAE and anticipated additional growth in this collaboration. He further remarked that India's increasing power and the transition into the Amritkal from a US$ 4 trillion economy to one exceeding US$ 30 trillion clearly indicate that India is the ideal location for business activities
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