India is taking steps to diversify its exports and boost domestic demand to support exporters hit by "unilateral action" taken by a country, Union Trade Minister Piyush Goyal said on Friday.
It was Goyal's first public comment since the doubling of U.S. tariffs on Indian goods to up to 50% took effect this week.
India is working on dedicated outreach programmes in 40 countries, including the UK, UAE, Russia, Japan and South Korea, to push textiles exports.
New Delhi aims to participate in international exhibitions, trade fairs and buyer-seller meets besides running sector-specific campaigns under a unified Brand India vision, an official said earlier this week.
The commerce and industry ministry will also hold a series of meetings this week with exporters from various sectors such as chemicals and gems and jewellery to discuss ways to boost exports to new markets to shield industries.
The official also said work is progressing fast on the formulation of the Export Promotion Mission, announced in the FY26 Budget.
The 50% tariffs, which came into effect from August 27, would impact India's exports worth more than $48 billion, with apparel and textiles, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery being the worst hit.
The US accounted for about 20% of India's $437.42 billion goods exports in FY25 and has been India's largest trading partner since FY22.
Focus on Textiles
Officials said that New Delhi aims to pursue a targeted approach, positioning itself as a reliable supplier of quality, sustainable and innovative textile products in each of the 40 identified destinations that include both traditional markets and emerging ones.
"FTAs and negotiations with several of these geographies will help make exports competitive and there is a huge potential for growth in these areas," the official added.
Although India already exports to more than 220 countries, the 40 importing countries hold the real key to diversification. "Indian industry, including export promotion councils and Indian Missions, would take the lead role in these countries," the official said.
Export Promotion Councils would conduct market mapping, identify high-demand products and link specialised production clusters to opportunities in the top 40 countries.
Together, these 40 countries represent more than $590 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share, which currently stands at only around 5-6%.
It was Goyal's first public comment since the doubling of U.S. tariffs on Indian goods to up to 50% took effect this week.
India is working on dedicated outreach programmes in 40 countries, including the UK, UAE, Russia, Japan and South Korea, to push textiles exports.
New Delhi aims to participate in international exhibitions, trade fairs and buyer-seller meets besides running sector-specific campaigns under a unified Brand India vision, an official said earlier this week.
The commerce and industry ministry will also hold a series of meetings this week with exporters from various sectors such as chemicals and gems and jewellery to discuss ways to boost exports to new markets to shield industries.
The official also said work is progressing fast on the formulation of the Export Promotion Mission, announced in the FY26 Budget.
The 50% tariffs, which came into effect from August 27, would impact India's exports worth more than $48 billion, with apparel and textiles, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery being the worst hit.
The US accounted for about 20% of India's $437.42 billion goods exports in FY25 and has been India's largest trading partner since FY22.
Focus on Textiles
Officials said that New Delhi aims to pursue a targeted approach, positioning itself as a reliable supplier of quality, sustainable and innovative textile products in each of the 40 identified destinations that include both traditional markets and emerging ones.
"FTAs and negotiations with several of these geographies will help make exports competitive and there is a huge potential for growth in these areas," the official added.
Although India already exports to more than 220 countries, the 40 importing countries hold the real key to diversification. "Indian industry, including export promotion councils and Indian Missions, would take the lead role in these countries," the official said.
Export Promotion Councils would conduct market mapping, identify high-demand products and link specialised production clusters to opportunities in the top 40 countries.
Together, these 40 countries represent more than $590 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share, which currently stands at only around 5-6%.
You may also like
National Sports Day: Gujarat CM felicitates athletes and coaches in Ahmedabad
Dietician shares physical signs someone's going through a breakup
'Miss Holiday' claimed £40K in benefits but 'had more air miles than Air Force One'
Samsung Galaxy A17 5G Launched: Powerful Battery, AI Features and Long-Term Updates in Mid-Range Segment
'I'm locked in petty gardening war with neighbour after outrageous demand'
