New Delhi, May 12, 2026: Union Minister of Commerce and Industry Piyush Goyal said today that the Indian economy has continued to show resilience amid global geopolitical and economic challenges, with strong fundamentals and growing global confidence in India.
Minister Goyal addressed the Confederation of Indian Industry (CII) Annual Summit today in New Delhi said India remains the fastest-growing large economy and highlighted that the country has nearly 11 months of import cover in foreign exchange reserves.
Referring to India’s export performance, he said the country is set to achieve an all-time high export figure of nearly USD 863 billion this year. Goyal added that India’s trade deficit in goods and services together is much lower than the country’s annual remittances, reflecting strong economic performance.
India has consistently turned crises into opportunities and noted that the country has always emerged stronger during periods of adversity, the Union Minister said.
The current global situation should be viewed as a wake-up call for India to become more efficient, productive and self-reliant, he said.
Referring to the vision of Atmanirbhar Bharat, Goyal said the doctrine of self-reliance and confidence in Indian capabilities has remained consistent under the leadership of Prime Minister Narendra Modi. He said the government and industry must work together to strengthen the India growth story.
