India Emerging As Trusted Global Partner On Back Of Reforms, Exports: Piyush Goyal

Union Commerce Minister Piyush Goyal. (Piyush Goyal Office)

Commerce and Industry Minister Piyush Goyal on Saturday said India’s policy reforms, new labour codes, digital innovation and export-led growth have positioned the country as a reliable partner in global trade.

Speaking at the World Hindu Economic Forum 2025, Goyal said the reform-driven governance model under Narendra Modi has laid a strong foundation for India’s long-term economic transformation.

Addressing the forum on the theme “Establishing Brand Bharat: Competitiveness in Global Trade”, Goyal said the government’s consistent focus on structural reforms is guiding India’s journey towards becoming a developed nation.

He said India’s rise is not limited to economic expansion alone, but also reflects a broader shift in values, confidence and global engagement.

Referring to India’s civilisational ethos, Goyal said Vasudhaiva Kutumbakam—the idea of the world as one family—has become a key principle shaping India’s global outlook and leadership approach under Prime Minister Modi.

In a post on X, the minister said India’s progress is anchored in reforms, rising exports and digital advancement, which together support the vision of a developed India.

oyal said India continues to strengthen its export base through diversification, innovation and strategic trade reforms, even as global markets face uncertainty due to geopolitical tensions and tariff-related developments, particularly from the US.

He noted that growth in high-value exports and expanding global partnerships has helped India maintain a balanced and globally integrated trade trajectory.

FTAs to support long-term trade stability

India has signed several major free trade agreements in recent years, including the Comprehensive Economic Partnership Agreement (CEPA) with Oman, while negotiations are ongoing with multiple other countries.

These agreements are expected to aid export diversification, enhance competitiveness and provide long-term trade stability amid global headwinds.

Trade deficit narrows sharply

According to official data from the Commerce Ministry, India’s exports rose 15.52 per cent to $73.99 billion in November, compared with $64.05 billion in the same month last year.

As a result, the trade deficit narrowed by over 61 per cent, falling from $17.06 billion to $6.64 billion. The growth was seen across key merchandise and services sectors, supported by steady demand from major trading partners.

(With IANS Inputs)