Union commerce and industry minister Piyush Goyal on Saturday expressed confidence that India’s exports will maintain a positive growth trajectory in 2025-26 despite global uncertainties, including US-imposed tariffs.Addressing reporters, Goyal said that during the first six months of the current fiscal (April–September 2025-26), India’s goods and services exports grew by about 5 per cent to $413.3 billion. Merchandise exports specifically rose by 3 per cent to $220.12 billion during the same 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. We are confident we will end 2025-26 with a positive growth in India’s exports,” he said, as per news agency PTI.The minister acknowledged that US tariffs have disrupted global supply chains and affected Indian exports to the US, which fell by roughly 12 per cent in September.Goyal also highlighted the impact of the recent GST rate cuts, saying the outward foreign portfolio investment (FPI) in September fell to under $900 million from around $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,” he added.When asked about e-commerce firms not passing on GST benefits to consumers, Goyal said that most companies have transferred the benefits, along with additional cash bonuses and discounts. He noted that the department of consumer affairs can take action if any platform fails to do so.Finance minister Nirmala Sitharaman, speaking at the GST Bachat Utsav, had said the government is monitoring price reductions on 54 items following the GST reforms implemented from September 22. The new rates, reducing tax slabs to 5 per cent and 18 per cent, have lowered prices for 99 per cent of daily use items, including toothpaste, shampoo, cars, and televisions.Sitharaman added that 3,169 complaints of non-passing of GST benefits have been received, with most forwarded to CBIC nodal officers. A total of 94 complaints have already been resolved, and functionality will be added to the grievance portal to streamline reporting to the chief commissioners of respective zones.
