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Informist, Tuesday, Nov. 25, 2025

 

--Goyal: Interest equalisation benefit under export mission to start next wk 
--Minister Goyal: India diverting seafood exports to EU after US tariff 
--CONTEXT: Minister Goyal addressing mediapersons on Board of Trade meeting 
--Minister Goyal: India's goods exports up YoY as of Nov 21 

 

NEW DELHI – India's goods exports, according to quick estimates available till Nov. 21, were up on year, Commerce and Industry Minister Piyush Goyal said Tuesday. Goyal's comments came after data showed India's goods exports at $254.25 billion during Apr-Oct were only marginally higher than $252.66 billion in the corresponding period a year ago.

 

India's export sector is showing resilience despite high tariffs by the US, Goyal told mediapersons while detailing the discussions that happened at the Board of Trade meeting. India's top export destination--the US--imposed a 50% tariff on Indian goods in August, which has impacted several labour-intensive sectors like marine products, textiles, gems & jewellery, among others. 

 

Indian exporters, with support from the government, are exploring markets other than the US to mitigate the impact of the tariffs, according to Goyal. For example, seafood exporters are now diverting their shipments to the European Union after the government's quality control orders on marine products, which led to the EU listing 102 new Indian fishery establishments for export in member countries, Goyal said. 

 

The Union Cabinet also approved the Export Promotion Mission earlier this month with an outlay of INR 250.60 billion to support the exporters. Under the mission, the benefit of interest equalisation on credit to exporters and market access initiative will be effective from next week, Goyal said. The mission will be operational with various schemes for six years till 2030-31 (Apr-Mar). 

 

The participants at the Board of Trade meeting asked the government to conclude the various trade deals currently under negotiations, Goyal said, naming those with the EU, the US, Oman, and New Zealand. Goyal also mentioned that India will soon begin negotiations with Israel with the aim of sealing an early harvest deal soon. New Delhi and Tel Aviv signed the Terms of Reference for the Free Trade Agreement just last week during Goyal's visit to Israel.  End

 

US$1 = INR 89.22

 

Reported by Krity Ambey

Edited by Akul Nishant Akhoury

 

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