India's exports to surpass FY25 levels, Goods and Services Tax (GST) reforms to aid growth: Union Minister of Commerce and Industry, Mr. Piyush Goyal

Union Minister of Commerce and Industry, Mr. Piyush Goyal, on September 4, 2025, said India’s exports in the current financial year (FY26) will surpass FY25 levels, supported by government efforts to diversify both markets and products. He added that the industry has committed to passing on the benefits of recent Goods and Services Tax (GST) rate cuts to consumers, which will lower prices, boost demand, and strengthen manufacturing activities. He also noted that despite challenges such as the 50% tariff on Indian goods imposed by the United States (US), India is exploring new markets, including seafood exports to the United Arab Emirates (UAE) and poultry to Singapore. 
He highlighted that GST reforms, including faster tax refunds for exporters, provisional relief under the inverted duty structure, and rationalised rates across sectors, will ease liquidity constraints and improve supply chains. These measures are expected to benefit Micro, Small, and Medium Enterprises (MSMEs), enhance export competitiveness, and reduce inflationary pressures. Commerce Secretary, Ministry of Commerce and Industry, Government of India, Mr. Sunil Barthwal, described GST rationalisation as a decisive step to build an Atmanirbhar Bharat, strengthen manufacturing, and support long-term sustainable growth. 

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