India’s Strong Message to the US After President Trump Imposed 50% Tariffs
Union Commerce and Industry Minister, Piyush Goyal on Thursday said that despite tariffs, India’s exports this year will be more than last year.
Speaking at the Curtain Raiser event of Bharat Buildcon in the national capital, Union Minister said, “If any country wants to enter into a free trade agreement with us, we are always ready. But I believe that any form of discrimination affects the self-confidence and self-respect of India’s 1.4 billion citizens."
"Keeping that in mind, we will neither bow down nor ever appear weak. Together, we will continue moving forward and capture new markets. I can confidently say that this year our exports will surpass last year’s."
According to the data of the Ministry of Commerce & Industry, in the last fiscal India’s total exports have touched an all-time high of USD 824.9 billion. This was a growth of 6.01 per cent over USD 778.1 billion of exports in 2023-24, which was a new milestone for India’s exports. The FY 2024-25 exports had exceeded the government’s initial anticipation of USD 800 billion to USD 824.9 billion.
The government has set a target of USD 1 trillion of exports in the current financial year 2025-26.The data shows that the overall exports stood at USD 68.25 billion in July 2025, marking a growth from the same month of the previous year at USD 65.31 billion.
The cumulative exports (merchandise & services) during April-July 2025 is estimated at US$277.63 billion, as compared to US$263.83 billion in April-July 2024, an estimated growth of 5.23 per cent.
The cumulative value of merchandise exports during April-July 2025 was USD 149.20 billion, as compared to USD 144.76 billion during April-July 2024, registering a positive growth of 3.07 per cent.
The Minister said that India’s share in the global exports is minimal. He criticised analysts who portrayed a pessimistic picture of India’s exports because of US tariffs and its negative impact on the Indian economy.
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