Piyush Goyal encourages exporters to take long term view of India-US trade

New Delhi, April 9 (IANS) Union Minister of Commerce and Industry, Piyush Goyal, on Wednesday held discussions with the Export Promotion Councils and industry bodies here in the light of the emerging trade scenario.

The meeting was called to deliberate on the impact as well as opportunities arising out of the evolving and very dynamic scenarios and to apprise the industry and trade about the steps being taken by the government.

“Held a very productive meeting with stakeholders of various Export Promotion Councils and Industry Associations. Deliberations focused on apprising stakeholders on the ongoing discussions with the US for a mutually beneficial multi sectoral Bilateral Trade Agreement (BTA),” said Goyal.

“Encouraged them to take the long term view of India-US trade and economic ties while making their commercial decisions and assured them that the government will work to provide a conducive environment to enable them to successfully navigate the recent changes in the global trade environment,” he added.

The Minister complemented the exporters and the industry for achieving the highest ever export of above $820 billion in the fiscal 2024-25 which is nearly 6 per cent growth over previous fiscal year.

In spite of multiple headwinds including the red sea crisis, Israel-Hamas conflict spilling over to Gulf region, continuation of Russia-Ukraine conflict and slow growth in some developed economies, the Minister lauded the Exporters for their resilience and efforts.

During the meeting, Goyal also apprised the exporters regarding discussions with the US for a mutually beneficial multi-sectoral Bilateral Trade Agreement (BTA).

He assured the exporters that the government will work to provide a conducive environment to enable them to successfully navigate the recent changes in the global trade environment.

Various Export Promotion Councils, representing a wide array of sectors, presented their views and outlook in light of the emerging challenges in global trade and requested the government to take proactive measures to support the export industry in these challenging times.

—IANS

na/