India's merchandise exports up in first third weeks of November: Union Minister of Commerce and Industry Mr. Piyush Goyal
- IBEF
- November 26, 2025
India’s merchandise exports showed growth in the first three weeks of November 2025, compared with the same period in 2024, despite global uncertainties and the 50% tariff imposed by the United States (US), Union Minister of Commerce and Industry Mr. Piyush Goyal said. The uptick comes after October 2025 shipments contracted 11.8% to Rs. 3,06,917 crore (US$ 34.4 billion). Speaking after the Board of Trade (BoT) meeting, he noted that preliminary estimates indicate positive trends in merchandise trade, highlighting India’s resilience amid global challenges. The BoT, an apex advisory body on trade policy, convened after more than a year and included senior officials from the Centre and States, as well as major industry associations, to discuss measures mitigating the impact of US tariffs.
He highlighted the recently approved Export Promotion Mission (EPM) worth Rs. 25,060 crore (US$ 2.81 billion), which will include targeted schemes to enhance competitiveness in landlocked States such as Madhya Pradesh, Chhattisgarh, Haryana, Jharkhand, and Telangana. Guidelines on the Interest Equalisation Scheme and the Market Access Initiative under EPM are expected in December 2025. He also underlined ongoing trade negotiations with the US, European Union, New Zealand, Oman, Peru, and Chile, with talks planned with the Eurasian Economic Union, Canada, and Israel. Exporters urged expanding central bank moratorium coverage, legal support for micro, small, and medium enterprises (MSMEs), and reforms in special economic zones. Commerce Secretary Mr. Rajesh Agrawal reaffirmed the ministry’s commitment to strengthening digital trade infrastructure, faster issue resolution, and improved inter-agency coordination. Think tank Global Trade Research Initiative recommended rapid implementation of EPM schemes and pressing Washington for a rollback of the additional 25% “Russian oil” tariff, now unnecessary following India’s compliance with US sanctions.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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