Will India’s Exports Surpass Last Year’s Figures? Piyush Goyal Weighs In

New Delhi, Aug 29 (NationPress) Commerce and Industry Minister Piyush Goyal stated on Friday that India’s exports this year are set to exceed last year's numbers, showcasing the increasing competitiveness and resilience of the domestic industry. The government is actively engaging with partner nations worldwide to unlock new avenues of opportunity.

During his address at the 'Bharat Buildcon 2026' conference, Goyal emphasized India's growing network of free trade agreements (FTAs) with advanced economies such as Australia, the UAE, Switzerland, Norway, Liechtenstein, Iceland, and the UK. Ongoing negotiations with the European Union and other countries will further enhance global prospects for Indian industries, including construction, steel, and related sectors.

India's total exports for FY25 have reached a record high of approximately $825 billion, reflecting a substantial growth of around 6.01 percent from the previous fiscal year.

Goyal pointed out that numerous developed nations are keen to strengthen trade ties with India. Countries like Qatar and the UAE have shown significant interest in forming FTAs with India.

This assurance from the minister comes in light of the recent increase in US tariffs on Indian exports to 50 percent as a punitive measure for purchasing Russian oil.

Goyal affirmed the government's commitment to ensuring that the industry does not encounter undue stress due to unilateral actions from certain nations. He encouraged industry leaders to pinpoint sectors where alternative markets are needed, assuring that the Commerce Ministry is reaching out to global partners to open new opportunities.

Furthermore, he highlighted the substantial export potential in steel and iron ore, noting that India can export 15 million tonnes of steel annually, enhancing its export portfolio with high-quality, competitively priced products.

Goyal also noted the significant housing shortage in Australia, where nearly 1 million homes are required. He invited Indian businesses, workers, and experts to capitalize on this opportunity, stating that Australia is open to financial collaboration, technical expertise, and workforce support from India.

Opportunities for training and certification are also being offered to ensure Indian professionals meet Australian standards. “If we miss this opportunity, we will have only ourselves to blame,” he remarked, labeling it a potential game-changer for India’s construction and financial sectors.

He emphasized that, alongside global outreach, enhancing domestic consumption remains a priority. The upcoming GST Council meeting is anticipated to introduce measures aimed at rapidly stimulating demand and bolstering domestic manufacturing.

The Minister asserted that the government is dedicated to supporting all sectors to ensure no industry is left behind—whether in accessing international markets or fortifying domestic opportunities. He also encouraged active participation in Quality Control Orders (QCOs) to establish India as a reliable supplier of high-quality products.

Goyal expressed that the potential of India is often underestimated by some analysts and media outlets. He pointed out that while certain experts may downplay the nation’s capabilities, the resilience of the Indian industry, the strength of its startups, and the confidence of its populace tell a different narrative. India has successfully navigated challenges such as COVID-19 and nuclear sanctions, emerging strong and ready to increase its share in global trade.

He remarked that 'Bharat Buildcon 2026' will exhibit India’s strength, innovation, resilience, and competitiveness as the country progresses toward 'Viksit Bharat 2047'.

Scheduled for April 29 to May 2, 2026, at the Yashobhoomi Convention Centre in the national capital, 'Bharat Buildcon' is being positioned as India’s flagship international platform for the building and construction materials industry. With India’s building and construction market valued at over USD 1 trillion and employing millions, the event will serve as a comprehensive platform to showcase India’s capabilities across 37 allied sectors including cement, ceramics, tiles, sanitaryware, paints, hardware, and electricals.

This exhibition will play a crucial role in promoting Indian products in international markets, enhancing exports, attracting investments, and establishing India as a trusted global supplier.