New Delhi, Aug 29: Commerce and Industry Minister Piyush Goyal said on Friday that India’s exports this year will be higher than last year, reflecting the growing competitiveness and resilience of the domestic industry, while the government is reaching out to partner countries across the globe to open up new opportunities.
Addressing the ‘Bharat Buildcon 2026’ conference here, Goyal highlighted India’s expanding network of free trade agreements (FTAs) with developed countries, including Australia, the UAE, Switzerland, Norway, Liechtenstein, Iceland and the UK, with negotiations ongoing with the European Union (EU) and others. These agreements will further open global opportunities for Indian industries such as construction, steel, and allied sectors, the minister pointed out.
India’s total exports for FY25 reached an all-time high of approximately $825 billion, marking a significant growth of about 6.01 per cent over the previous fiscal. Goyal further highlighted that several developed countries are eager to expand trade relations with India, noting that nations such as Qatar and the United Arab Emirates (UAE) have expressed keen interest in entering into FTAs with India. The minister’s assurance came in the backdrop of the hike in US tariffs on Indian exports to 50 per cent as a punitive step for buying Russian oil.
Goyal said the government is committed to ensuring that industry does not face unnecessary stress or difficulties arising from unilateral actions by some countries. He urged industry representatives to highlight sectors where alternative markets are required, assuring that the Commerce Ministry is reaching out to partners across the globe to open up new opportunities.
He also highlighted the vast export potential in steel and iron ore, noting that India could export 15 million tonnes of steel annually, strengthening its export basket with high-quality, competitively priced products. The minister also drew attention to the acute housing shortage in Australia, where nearly 1 million homes are required. He invited Indian businesses, workers, and experts to seize this opportunity, stating that Australia is open to financial collaboration, technical expertise, and workforce support from India. Training and certification opportunities are also being offered so Indian professionals can meet Australian standards.
“If we miss this opportunity, we will have only ourselves to blame,” he remarked, calling it a potential game-changer for India’s construction and financial sectors. Goyal emphasised that, alongside global outreach, boosting domestic consumption remains a priority. The upcoming GST Council meeting, he noted, is expected to provide measures that will quickly stimulate demand and give a strong boost to domestic manufacturing.
The Minister said the government is focused on supporting industry so that no sector is left behind—whether in accessing international markets or strengthening domestic opportunities. He also encouraged active participation in Quality Control Orders (QCOs) to ensure India emerges as a trusted supplier of high-quality products. Goyal asserted that the capability of India is not being correctly understood by some experts and media.
He pointed out that while certain analysts underestimate the nation’s potential, the resilience of Indian industry, the strength of its startups, and the confidence of its people tell a different story. India has successfully navigated challenges such as COVID-19 and even nuclear sanctions, and today it stands strong, ready to expand its share in global trade.
Goyal said that ‘Bharat Buildcon 2026’ will showcase India’s strength, innovation, resilience, and competitiveness as the country marches towards ‘Viksit Bharat 2047’. Scheduled from April 29 to May 2, 2026 at Yashobhoomi Convention Centre in the national capital, ‘Bharat Buildcon’ is being positioned as India’s flagship international platform for the building and construction materials industry.
With India’s building and construction market valued at over USD 1 trillion and employing millions, the event will provide a one-stop platform to highlight India’s capabilities across 37 allied sectors including cement, ceramics, tiles, sanitaryware, paints, hardware and electricals. The exhibition will play a pivotal role in promoting Indian products in international markets, boosting exports, attracting investments, and positioning India as a trusted global supplier.
IANS
