India’s Exports Surge Over 15% in Initial Five Months of FY2026-27, Reports Commerce Minister Piyush Goyal
India’s merchandise exports have surged by 17.04% to $173.78 billion during the April-July period of the current fiscal year, despite a challenging global trade environment. Imports also rose, climbing 19.27% to $292.38 billion. Commerce and Industry Minister Piyush Goyal announced these figures on Wednesday, highlighting the resilience of Indian exports amid geopolitical tensions and trade disruptions.
Challenges for International Trade
Goyal emphasized the need for BRICS countries to tackle three main challenges that hinder international trade: access to finance, access to buyers and markets, and predictable business regulations. He advocated for increased support for women entrepreneurs and small businesses, suggesting that easier access to credit and more opportunities for participation in international trade events would be beneficial.
He proposed that governments should encourage women-owned enterprises to engage more actively in international forums, beyond just the annual Women Business Alliance meeting. Goyal also suggested forming sector-specific women-led business delegations among BRICS nations, citing the example of a textile delegation traveling between member countries.
Enhancing BRICS Trade Infrastructure
The minister referenced the Jaipur Consensus, established at the recent BRICS Commerce and Industry Ministers’ meeting, which aims to explore a common platform for international trade among BRICS nations. This platform could facilitate connections between businesses and new markets, while also providing financial support to women entrepreneurs and small enterprises.
Goyal called for greater digital integration in trade, proposing a unified system for electronic trade documents, including e-invoices and electronic bills of lading. He stressed the importance of enabling cross-border delivery of services online while adhering to national laws. Goyal noted that the services sector, with global trade nearing $10 trillion, presents significant untapped potential for intra-BRICS trade, particularly for women entrepreneurs and MSMEs in areas like mobility and the digital economy.
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