India's merchandise exports have recorded a robust 15 per cent growth during the first four months of the current financial year, demonstrating the country's resilience in the face of geopolitical tensions and disruptions in global trade. Commerce and Industry Minister Piyush Goyal highlighted the achievement while delivering the JRD Tata Memorial Lecture 2026, stating that Indian exports have remained on a strong growth trajectory despite the continuing Red Sea crisis, uncertainty in the Strait of Hormuz, and volatility in global energy markets.
The minister noted that the April-July export performance reflects the strength of India's economic fundamentals at a time when many economies are struggling with slowing trade and supply chain disruptions. According to him, Indian exporters have successfully navigated global uncertainties and maintained momentum, underscoring the country's growing competitiveness in international markets.
Mr Goyal pointed out that businesses across the world continue to face significant challenges arising from conflicts in West Asia, disruptions to major shipping routes, and unpredictable freight costs. The prolonged Red Sea crisis has forced many shipping companies to reroute vessels around the Cape of Good Hope, increasing transit times and transportation expenses. At the same time, concerns surrounding the Strait of Hormuz have heightened uncertainty in global energy supplies, leading to fluctuations in crude oil, petrol, diesel and natural gas prices.
Despite these adverse conditions, India has managed to sustain export growth, reflecting the adaptability of its manufacturing and export sectors. The minister attributed this performance to the country's diversified export base, improving industrial capabilities and supportive government policies aimed at enhancing global trade competitiveness.
Highlighting the broader economic picture, Mr Goyal said India continues to be the world's fastest-growing major economy. He noted that the country registered a 7.7 per cent economic growth in the previous financial year, despite widespread global uncertainty and economic headwinds. The strong growth, he said, demonstrates the resilience of the Indian economy and its ability to withstand external shocks.
The minister emphasized that India's steady economic expansion has strengthened investor confidence and created a favourable environment for businesses. He added that sustained reforms, infrastructure development, and efforts to improve ease of doing business have played an important role in supporting both domestic industries and export-oriented sectors.
Mr Goyal also underlined the importance of expanding India's presence in global markets through stronger trade partnerships and improved manufacturing capabilities. He said the government remains committed to enhancing the country's export ecosystem by improving logistics, reducing trade barriers and promoting value-added manufacturing under initiatives aimed at making India a global production hub.
The encouraging export figures come at a time when several economies are witnessing sluggish trade growth due to geopolitical instability and weakening global demand. India's ability to post double-digit export growth despite these challenges highlights the resilience of its exporters and the growing confidence in Indian products across international markets.
With global uncertainties expected to persist, the government believes that continued policy support, diversification of export destinations and strengthening supply chains will be crucial in maintaining the current momentum. The latest export performance, coupled with strong economic growth, reinforces India's position as one of the brightest spots in the global economy and signals its increasing role in international trade.
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