India to Register Positive Growth in Exports this Fiscal: Goyal

Commerce and Industry Minister Piyush Goyal on Saturday expressed confidence that despite global uncertainties due to the US tariffs, India's exports will register a positive growth in 2025-26.

He said that during the first six months (April-September) of this fiscal, the country's goods and services exports have recorded growth.

It grew by about 5 per cent to USD 413.3 billion during April-September 2025-26. India's merchandise shipments too rose by 3 per cent to USD 220.12 billion during the period.

"There is resilience, there is confidence, there is a demand for our goods and services across the world and India will continue on this growth trajectory, and we are confident we will end 2025-26 with a positive growth in India's exports," he told reporters here.

Imposition of tariffs by the US has disrupted the global supply chains. It has also impacted India's exports to the US, which fell by about 12 per cent in September.

Talking about benefits of the recent cut in GST rates, he said the outward FPI in September came down to less than USD 900 million from around USD 4 billion in August.

"As soon as the GST announcement came in, investors quickly realised that this is a bonanza. Demand will go up massively," Goyal said.

When asked if some e-commerce firms have not passed on the benefits of GST cut to consumers, the minister said that normally all companies have passed on the benefits and above that they have announced cash bonuses and discounts also.

"But if any site or platform has not passed on the benefits ...consumer affairs (department) can take action ...all industry and businesses have assured me that full benefit will be passed on to consumers," he added.