India's Export Growth Soars Toward $800 Billion Record

India is on track to achieve a major landmark in its economic growth process as exports of goods and services are expected to cross $800 billion during the current fiscal, said Commerce and Industry Minister Piyush Goyal. This anticipated figure surpasses last year’s total of $778 billion, showcasing India's robust export sector amid global uncertainties.

"My estimate is that we will cross $800 billion in exports, another record given the world situation," Goyal stated, highlighting the resilience of India’s diverse export basket and the surging growth in services exports.

Despite challenges like forex crises and disruptions caused by the Red Sea conflict, India’s exports have continued to thrive. Rising imports, reflecting vigorous economic activity, further underline India’s growth story, which is driven by machinery and intermediate goods demand.

Goyal emphasized the government’s commitment to easing the process for startups relocating their domicile to India. "It is a welcome sign and also very very satisfying that more and more startups come back home and register in India, list in India, and grow in India. India will be a preferred destination in the future," he said. The National Startup Advisory Council will engage with stakeholders to facilitate this transition.

In a discussion with EV stakeholders, Goyal declared that India’s electric mobility sector no longer requires additional subsidies. He pointed to existing GST reductions and safety standards, urging the industry to drive awareness and infrastructure development. On battery swapping, he stressed, "It's up to the consumer. Smart consumers will make smart choices."

These developments signal India's economic resilience and future-focused strategies in exports, startups, and green mobility.