India’s merchandise exports grow over 15% in April-August: Piyush Goyal

Reports coming in for today mention that India’s merchandise exports grew by more than 15 per cent during April-August of the current financial year, Commerce and Industry Minister Piyush Goyal stated on Wednesday, flagging continued resilience in goods shipments despite global trade headwinds and geopolitical volatility.

“Challenges were many but we found opportunities and we will keep labour on,” Goyal stated, adding that the government has set aggressive export targets for FY27 despite the headwinds facing global trade.

Official data revealed merchandise exports at $173.78 billion during April-July FY27, up 17.04 per cent from $148.48 billion a year earlier. Goyal’s latest remarks provide the first indication of export performance including August.

Goyal was speaking at the BRICS Women’s Business Alliance (WBA) Women-Led Development Summit 2026 in New Delhi, three days before the 18th BRICS Leaders’ Summit, which India will host at Bharat Mandapam on September 12-13.

Goyal seeks practical feedback on trade barriers

The minister called on businesses to identify specific processes, documents and certification requirements that are creating hurdles for trade.

“Share with us which process, document, which certificates stops you or does not help you in the business or whatever work you wish to pursue,” Goyal stated.

He stated practical data from businesses would help the government “rightsize” policies and make it easier to do business.

“We would love to hear what is the fix you need,” he stated.

Goyal stated India sees “tremendous potential” in its trade in goods with BRICS partners and called for greater efforts to connect women-led businesses across member and partner countries.

Propel for more women exporters at BRICS

Goyal suggested bringing more women-owned firms from BRICS member and partner countries to exhibitions and organising more buyer-seller meets.

“India is ready to share its experience in women-led entities with partner countries,” he stated.

On access to finance, Goyal called for the BRICS Business Council’s work on invoice discounting platforms to reflect the actual requirements of women exporters.

He additionally suggested that banks and lenders consider invoices when making lending decisions and called for the Women Advancement Fund, envisaged under the Jaipur Consensus, to be turned into a concrete outcome.

Goyal flags untapped potential in BRICS services trade

Goyal stated BRICS countries had not focused enough on services trade among member countries, despite the size of the global services market.

“It is almost a $10 trillion services trade and we have looked at the numbers within our member countries, it is pretty low, leaving scope for huge expansion,” he stated.

He additionally stated global trade was showing signs of strain because of volatility and geopolitical conflicts, including the two ongoing wars.

Goyal called for efforts towards global peace and greater cooperation among nations to backing international trade in goods and services.

Propel for electronic trade documents

The minister stated BRICS members should work towards a common platform for electronic trade documents, e-invoices, e-customs and electronic bills of lading.

He stated members had already agreed to voluntary principles to make it easier to deliver services online across borders while protecting the respective laws of individual countries.

Goyal additionally stated BRICS trade ministers had recommended the Strategy for BRICS Economic Partnership 2030 for endorsement by the bloc’s leaders.

“I hope that at leaders’ summit we will see more concrete outcome so that we can take 2030 as the first step for a greater horizon in the future,” he stated.