India is rapidly emerging as a trusted global partner, propelled by a series of strategic reforms and a strong focus on exports, according to Commerce and Industry Minister Piyush Goyal. Speaking at the World Hindu Economic Forum 2025 on Saturday, Goyal highlighted the government's reform-oriented approach under Prime Minister Narendra Modi as the foundation for India's journey towards becoming a developed nation, or "Viksit Bharat".
Goyal emphasized that India's progress is not solely an economic success story but also reflects a transformation in values and mindset. He noted that policy reforms, new labor codes, digital innovations, and increasing exports have collectively contributed to India's enhanced reliability as a global partner. He further communicated this sentiment through a post on social media platform X.
India's export sector has demonstrated remarkable resilience, driven by diversification, innovation, and strategic trade reforms, despite uncertainties in global markets. This growth is underpinned by high-value commodities, expanding global partnerships, and policy reforms that support a more balanced and globally integrated trade trajectory, even amidst global challenges such as recent US tariff-related developments.
A key indicator of this success is the significant increase in exports, which rose by 15.52% to $73.99 billion in November 2025, compared to $64.05 billion in November 2024. This surge in exports has led to a substantial narrowing of India's trade deficit by over 61%, from $17.06 billion to $6.64 billion, according to official data from the Commerce Ministry. The increase in exports spans across key merchandise and services sectors, supported by consistent demand from major partner countries, highlighting the strength and adaptability of India's export sector in the face of evolving global trade dynamics.
India has actively pursued Free Trade Agreements (FTAs) to further boost its trade and economic ties. The recent Comprehensive Economic Partnership Agreement (CEPA) with Oman is a significant step in this direction, and negotiations are ongoing with several other countries. These agreements are expected to promote export diversification, enhance trade stability and competitiveness, and ensure long-term economic security amidst global uncertainties.
Furthermore, the government remains actively engaged with exporters, including MSMEs, to assess the impact of US tariffs on textiles and apparel exports, and is working to mitigate these effects through a comprehensive, multi-pronged strategy.
In addition to trade agreements, India and the EU are aiming to finalize their free trade agreement by the end of 2025, focusing on market access, digital trade, and innovation. The EU is India's largest trading partner and this deal is expected to strengthen the partnership further.
Piyush Goyal's statements and the recent economic data underscore India's growing importance as a reliable and dynamic player in the global economy. The country's commitment to reform, innovation, and strategic partnerships is solidifying its position as a trusted global partner.
