By Priya Raghuvanshi
Copyright timesnownews
Union Commerce Minister Piyush Goyal expressed optimism on Wednesday that India’s exports will see an approximate 6 per cent increase in 2025 compared to the previous year. Speaking to the news agency PTI, Goyal highlighted the country’s strong presence in global trade despite ongoing challenges. He stressed that India’s export trajectory looks promising and that the nation is poised to close the year positively. The minister also shed light on the ongoing negotiations for free trade agreements (FTAs) with several countries. “With the European Union, we had good discussions in the last round… EU President Ursula von der Leyen and Prime Minister Narendra Modi guided us to complete the negotiations by year-end,” Goyal revealed. Other countries such as Peru, Chile, New Zealand, and Oman are also engaged in talks, showing growing international interest in boosting trade ties with India. Domestic Momentum And Employment Opportunities Highlighting the strong domestic economic performance, Goyal pointed out that India’s unemployment rate recently hit a low of 5.1 per cent. He addressed misconceptions about unemployment, noting that companies like Larsen and Toubro are struggling to find enough workers to meet project deadlines. The commerce minister described India as a land full of opportunities, with infrastructure developments and initiatives like GST 2.0 expected to further stimulate investments, job creation, and trade expansion. Strategic Partnerships And Future Prospects Goyal spoke highly of the successful FTA with the UAE, describing it as the fastest-ever agreement, completed in just 88 days. The pact has since led to rapid growth in exports to the UAE, a vital gateway for markets in Africa, the Gulf, and Eastern Europe. He expressed confidence that investments from the UAE into India would continue to increase, strengthening this key economic partnership. Meanwhile, India and the United States are set to resume in-person trade talks in New Delhi on August 27, taking a cautious step toward resolving tensions that arose from US tariffs on Indian exports.
