Commerce and Industry Minister Piyush Goyal on Saturday said that policy reforms, new labour codes, digital innovations and robust exports have helped India emerge as a reliable global partner.
Addressing the World Hindu Economic Forum 2025 on the theme “Establishing Brand Bharat: Competitiveness in Global Trade”, Goyal said the reform-oriented approach of the government under Prime Minister Narendra Modi has laid the foundation for the country’s journey towards a developed India (Viksit Bharat).
“Vasudhaiva Kutumbakam is India’s civilisational consciousness, which Prime Minister Narendra Modi has made the guiding principle of global leadership,” Goyal told the gathering.
He further said that India’s progress is not merely a story of economic growth but also of a transformation in values and mindset.
“With policy reforms, labour codes, digital innovations and rising exports, India has today become a reliable global partner, which forms the foundation of our journey towards a developed India,” Goyal posted on the social media platform X.
The minister said that driven by diversification, innovation and strategic trade reforms, India continues to strengthen its exports despite uncertainties in global markets.
This growth reflects India’s resilience, with high-value commodities, expanding global partnerships and policy reforms supporting a more balanced and globally integrated trade trajectory amid global headwinds triggered by recent US tariff-related developments.
India has signed a series of major free trade agreements (FTAs), the most recent being the Comprehensive Economic Partnership Agreement (CEPA) with Oman, while negotiations are ongoing with several other countries.
These agreements are expected to lead to further export diversification, strengthening trade stability, competitiveness and long-term economic security amid global uncertainties.
India’s exports rose by 15.52 per cent to $73.99 billion in November this year from $64.05 billion in November 2024. As a result, the country’s trade deficit narrowed by over 61 per cent, from $17.06 billion to $6.64 billion, according to official data from the Commerce Ministry.
The increase in exports was recorded across key merchandise and services sectors, alongside steady demand from major partner countries, underscoring the resilience of India’s export sector amid evolving global trade conditions.
–IANS
