India’s merchandise exports jump 15% despite global headwinds: Piyush Goyal
India's merchandise exports saw over fifteen percent growth from April to August. The nation has set ambitious export targets for the upcoming fiscal year. BRICS nations possess significant potential for expanding trade in goods and services. Discussions also focused on improving trade facilitation and digitalizing trade documents. India and Thailand reviewed their trade agreement to boost…
India's merchandise exports surged by around 15% between April and August this fiscal year, according to Commerce and Industry Minister Piyush Goyal. Despite global trade uncertainties, Goyal expressed optimism about India's export prospects. He highlighted the potential for increased trade between India and BRICS nations, calling for greater efforts to connect women-led businesses across these countries.
Goyal also emphasized the need to address trade hurdles by identifying specific processes, documents, and certification requirements. He proposed the development of a common platform for electronic trade documents, e-invoices, e-customs, and electronic bills of lading among BRICS members. Additionally, Goyal stressed the importance of improving trade efficiencies, particularly in services, and suggested that BRICS work towards a common platform for electronic trade documents.
The Indian minister also discussed the progress of the ASEAN India Trade in Goods Agreement during a meeting with Thailand's Deputy Prime Minister and Commerce Minister, Suphajee Suthumpun. Both countries emphasized the need for deeper bilateral engagement and the review of the agreement to make it more user-friendly for businesses.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Piyush Goyal to meet Russian ministers to advance EAEU trade deal talks economictimes.indiatimes.com
