Indian Economy News

Union Minister of Commerce and Industry Mr. Piyush Goyal Interacts with Export Promotion Councils, Calls for Greater Export Competitiveness and Market Diversification

Union Minister of Commerce and Industry Mr. Piyush Goyal interacted with representatives of Export Promotion Councils (EPCs) in New Delhi on October 28, 2026. The meeting reviewed the export scenario and discussed measures to strengthen India’s export competitiveness. Highlighting the evolving global trade environment, marked by geopolitical uncertainties and supply chain realignments, Mr. Piyush Goyal noted that these developments also present opportunities for India. They could help the country strengthen its position as a reliable and competitive trading partner. Exporters were encouraged to focus on product quality, innovation, cost competitiveness and compliance with international standards to enhance participation in global value chains. Referring to recent visits to Germany and the Netherlands, Mr. Piyush Goyal highlighted the growing interest in India as a manufacturing, sourcing and investment destination. EPCs were urged to translate these engagements into tangible business outcomes.

Emphasising that preferential market access under Free Trade Agreements (FTAs) must translate into increased exports and greater market penetration, Mr. Piyush Goyal encouraged EPCs to undertake sector-specific assessments of export opportunities in partner countries. The meeting also stressed a focused approach towards product and market diversification, with EPCs asked to identify products with untapped export potential and explore new destinations. The Export Promotion Mission was highlighted as an important initiative for addressing constraints related to export finance, market access and competitiveness, particularly for micro, small and medium enterprises (MSMEs). EPCs were further urged to expand outreach to smaller enterprises, startups and new exporters. They were also asked to strengthen collaboration with state governments and the Directorate General of Foreign Trade (DGFT).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.