Commerce & Industry Minister Piyush Goyal has urged exporters to prioritise local supply chains and products to strengthen India's economic security amid global trade uncertainties.
"…we have recently seen whenever any nation limits or puts export controls then it impacts our exporters and industry. This is why Atmanirbhar Bharat is key," Goyal said on September 8, during the platinum jubilee celebration of the Engineering Exports Promotion Council (EEPC).
The comments come at a time when India’s automobile and electronics sector is facing production delays due to export restrictions on rare earth magnets, along with curbs on fertiliser exports, by China.
Goyal once again urged the industry to pass on the entre benefit of the reforms in the Goods and Services Tax (GST) regime to the consumers, and said the steps to simplify the indirect tax system and reduce rates would uplift domestic demand, leading to faster growth.
India's economy grew 7.8 percent in the first quarter of 2025-26, surpassing market estimates, driven by buoyant growth in the services sector.
Speaking at the event, Minister of State for Commerce & Industry Jitin Prasada said Indian exporters must also adopt new technologies and sustainable practices, and expressed confidence that businesses will be able to tackle the present uncertainties.
"The global environment is not without challenges. Geopolitical tensions and the rising protectionism in some regions pose uncertainties, but I am confident our exporters will rise to the occasion with innovation and resilience," said Jitin Prasada.
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