Union Commerce and Industry Minister Piyush Goyal met with exporters on Thursday to discuss strategies for boosting shipments and leveraging free trade agreements (FTAs), according to the Economic Times. The meeting focused on strengthening support for micro, small, and medium enterprises (MSMEs), maximising opportunities under existing FTAs, fostering innovation and deep-tech capabilities, improving export facilitation, and expanding India's role in global value chains, Goyal stated in a social media post.
Meeting Participants and Deliberations
Representatives of various Export Promotion Councils (EPCs) and Industry Associations participated in the deliberations, the Economic Times reported. The meeting reviewed strategies for advancing India's export ecosystem, accelerating market diversification, and enhancing the country's global trade competitiveness. Several export promotion councils presented their sector-specific export performance and KPI (Key Performance Indicator) progress during the discussions.
"Discussed measures to strengthen support for MSMEs, maximise opportunities through FTAs, foster innovation and deep-tech capabilities, improve export facilitation, and expand India's role in global value chains," Goyal said in a social media post, as reported by the Economic Times.
India's Trade Performance Data
During April-May 2026-27, India's merchandise exports rose by 16.09% to USD 88.91 billion, according to the Economic Times. Imports during the same period jumped by 15.14% to USD 145.35 billion. The resulting trade deficit stood at USD 56.44 billion for the first two months of the fiscal year.
Sectoral Inputs and Way Forward
The meeting, convened by the Ministry of Commerce and Industry, provided a platform for export promotion councils to outline sectoral challenges and opportunities. The government's focus remains on improving export facilitation and expanding India's integration into global value chains, the Economic Times reported. While specific FTA utilisation data was not detailed in the source, the meeting's emphasis on "maximising opportunities through FTAs" signals continued prioritisation of existing trade pacts such as the India-UAE CEPA, India-Australia ECTA, and the India-EFTA TEPA.
For import/export professionals and trade policy analysts, the April-May trade data indicates robust export growth outpacing import growth by a narrow margin, although the widening trade deficit of USD 56.44 billion highlights significant import dependence. The meeting's focus on MSME support and deep-tech capabilities suggests future policy measures may target these areas to enhance export competitiveness and reduce the trade imbalance.
