India's export strategy focused on market diversification: Goyal

India’s export strategy is focused on market diversification, logistics reforms, technology adoption, and empowerment of micro, small and medium enterprises to become an integral part of the global supply chain, Union commerce minister Piyush Goyal said at the Board of Trade (BoT) meeting in New Delhi on Tuesday.

- Rajeev Jayaswal

Union minister Piyush Goyal.PTI

“There was a lot of enthusiasm, lot of confidence, and lot of encouragement to all of us that given the challenging circumstances across the world, India continues to be a shining star,” he told reporters after the BoT meeting. Citing latest quick estimates (as on November 21), he said, merchandise exports are also “showing growth” from corresponding period last year. “Services, of course, showing significant growth,” he said.

The minister said India’s overall exports (goods and services combined) are on an “upward trajectory” despite global headwinds. Notwithstanding a 50% additional tariff on Indian goods in the US market, India’s overall exports in the first seven months of the current financial year crossed $491.80 billion as against $469.11 billion in April-October of 2024-25, registering 4.84% growth.

Goyal gave examples of seafoods to show resilience of Indian exports despite headwinds. Due to adoption of stringent quality control, India could match standards of the European Union (EU) that helped in diversifying its marine exports. As a result, India’s marine exports rose over 16% in April-October 2025 to $4.87 billion, from $4.20 billion in April-October 2024, per government data.