Union Commerce and Industry Minister Piyush Goyal on Friday, 3 July 2026 chaired a Board of Trade meeting that brought together representatives from States and Union Territories, industry leaders, trade bodies, and senior government officials to deliberate on accelerating India's export momentum and strengthening its manufacturing ecosystem.

Context

The Board of Trade is an advisory body under the Ministry of Commerce and Industry that serves as a platform for structured dialogue between the Centre, state governments, and the private sector on trade strategy. At the 3 July meeting, discussions centred on improving logistics and supply chains, reducing trade costs, unlocking district-level export potential, and further enhancing ease of doing business. Minister Goyal underlined the importance of stronger Centre-State collaboration to create greater opportunities for enterprises and MSMEs.

In a post on X, Goyal described the session as 'productive' and stressed the need to 'expand the global footprint of Indian businesses and accelerate India's journey towards becoming a leading global trade and manufacturing hub.'

Policy Backdrop

The meeting sits within a broader reform arc that began with the launch of the Make in India initiative in September 2014, which sought to position the country as a global manufacturing destination. This was followed by the rollout of Production Linked Incentive (PLI) schemes from 2020 across 14 sectors, designed to attract investment and raise export volumes by incentivising domestic manufacturing at scale.

The Foreign Trade Policy 2023-28 added a district-level dimension to export promotion, pushing states to identify and develop local export clusters beyond traditional hubs. Free Trade Agreements — including those concluded with the UAE and Australia — have opened preferential market access for Indian goods, and the government has framed these FTAs as levers to integrate Indian firms into global value chains.

Stakeholders and Impact

MSMEs stand at the centre of the policy conversation, given their role as the backbone of India's manufacturing base and their potential to diversify the country's export basket. State governments are key implementation partners, particularly for logistics upgrades and district-level export facilitation, areas where ground-level action determines how effectively national policy translates into actual trade volumes.

Trade bodies representing sectors ranging from textiles and engineering goods to pharmaceuticals and electronics have consistently called for lower logistics costs and simpler compliance procedures — themes that featured prominently in the Board of Trade deliberations. Improved supply-chain efficiency is widely seen as a prerequisite for Indian exporters to remain price-competitive in global markets.

What's Next

Attention will now turn to follow-up action plans at the state level, particularly on logistics infrastructure and export facilitation measures. The Foreign Trade Policy 2023-28 implementation roadmap is expected to be a reference point for states as they draw up their own export strategies in consultation with the Centre. Any concrete announcements on revised trade-cost reduction targets or new district-level export clusters will be closely watched by industry stakeholders and MSME associations across the country.