More Stories

Informist, Saturday, May 23, 2026

 

Please click here to read all liners published on this story

--Goyal: No signs of slowdown, industry saying unable to cope up with demand 
--Minister Goyal: Govt doesn't interfere in FX exchange rate 
--Goyal:Promoting export growth, reducing import dependence to support rupee 
--Minister Goyal: Econ fundamentals strong, exports robust 
--Minister Goyal: India rising relentlessly on global stage
--Minister Goyal: Pace of export growth seen Apr continues in May 
--Minister Goyal: Econ fundamentals strong, exports robust 
--Minister Goyal: Econ self-confident, on path of self-reliance 
--Minister Goyal: Gross FDI growth seen FY26 to continue 

 

NEW DELHI – Industry players have highlighted that they are unable to keep up with demand despite the war in West Asia, Commerce and Industry Minister Piyush Goyal said Saturday. There are no signs of a demand slowdown in the economy so far based on recent discussions with the industry, the minister said at a press conference here.

 

The minister did not respond to a question of whether output was stymied by supply chain issues. Supply chains have been under pressure since the beginning of the war in West Asia, which has led to the vital Strait of Hormuz being effectively shut since early March. Prices of crude oil and other major commodities have risen due to the supply shock, which is seen increasing imported inflation and slowing demand.

 

"There is a complete disconnect between what is happening on the ground and perception that is being created in New Delhi," Goyal said.

 

He said imports continue to be robust, another sign of resilient demand, while exports are likely to grow in double-digits. The government is conscious of the exchange rate and is promoting exports while reducing import dependencies in several sectors, Goyal said. It was also incentivising investment into areas with high export potential to support India's external account. The pace of export growth seen in April is continuing in May so far, the minister added.

 

India is targetting $1 trillion of goods and services exports in 2026-27 (Apr-Mar), up 16.3% on year. In the first month of the financial year, merchandise exports rose 13.8% on year to $43.56 billion. Data for services exports for April had not been released yet. Earlier this week, the commerce minister said the industry must leverage India's nine free-trade agreements struck over the past two years to meet the target.

 

Still, the Centre does not interfere in the exchange rate and the rupee moves in line with market forces and taking into account global factors, Goyal said. The rupee has fallen over 5% against the dollar since the West Asia war began on fears of a wider current account deficit due to a higher import bill. 

 

The commerce ministry was also seeking to channel increasing domestic and global investment into India. For this, it had fastracked the implementation of the Bharat Audyogik Vikas Yojana, Goyal said. Operational guidelines for the scheme for industrial parks were also announced at the press conference. Meanwhile, foreign direct investment is seen growing at a similar pace, after the 17% rise in gross FDI to $94.53 billion in FY26, he said. 

 

"We see the world going through tremendous turmoil, and on the other hand we see Bharat's relentless rise on the global stage," Goyal said. "In every respect, India has shown to the world an economy which is self-confident, powering on the path of self-reliance, engaging with the world on equal and fair terms..."  End

 

US$1 = INR 95.69

 

Reported by Aaryan Khanna

Edited by Vandana Hingorani

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.