Goyal Pushes For Manufacturing Of Goods To Cut Dependence On Imports

New Delhi: Commerce and industry minister Piyush Goyal on Monday asked the industry to identify goods that can be manufactured in India to help reduce import dependence of those products. “Do increase the exports and buy goods manufactured in India, rather than importing them,” he said.

Goyal also urged stakeholders to study import trends through the commerce ministry’s trade portal and identify opportunities for domestic manufacturing and import substitution. “You should keep an eye on what goods are being imported, you will see opportunities in that too, what things can be manufactured in India,” he said, while addressing the domestic traders.

The minister also said that despite global economic uncertainties, triggered by the Russia-Ukraine and West Asia crisis, India’s exports rose about 5 per cent to $863.11 billion in 2025-26. “This year's target is $1 trillion. This is a big target. We have to work together for this,” Goyal said, adding that the industry should focus on quality, improving competitiveness and enhancing scale of operations.

In the next five years, the government is looking at increasing the goods and services exports to $2 trillion. “The free trade agreements or FTAs finalised by India will give preferential market access to Indian goods and help boost exports,” the minister said.

The FTA with Oman may be operationalised from June 1 this year. Further, the minister asked to increase value addition in agri exports as it has crossed Rs 5 lakh crore. The minister, however, launched a portal on Bhartiya Vyapar Mahotsav, which will be held from August 12 to 15 at Bharat Mandapam here.