India's merchandise exports grew by more than 15% during the first five months of the current fiscal year despite global uncertainties and geopolitical turmoil, Union Commerce and Industry Minister Piyush Goyal said. The minister highlighted the resilience of India’s external trade while calling for greater opportunities for businesses in international markets.

Key Highlights

• India merchandise exports grew over 15% during April-August despite global uncertainties and geopolitical turmoil, Piyush Goyal said.
• Piyush Goyal urged BRICS nations to expand trade while improving credit, market access and predictable business rules.

Speaking at the BRICS Women’s Business Alliance (WBA) Women-Led Development Summit 2026, Goyal said India and other BRICS economies have significant scope to expand trade in both goods and services. He particularly emphasised the need to create more opportunities for women-led businesses to participate in global trade.

India Merchandise Exports Show Strong Growth

Piyush Goyal said merchandise exports from India increased by more than 15% between April and August, despite the turmoil affecting global trade. The Commerce Ministry is scheduled to release official merchandise export and import data for August on September 15.

During April-July of the current fiscal, India’s exports had already risen 17.04% to $173.78 billion. Imports during the same period increased 19.27% to $292.38 billion.

Piyush Goyal Highlights Three Key Barriers for Exporters

Piyush Goyal said businesses seeking to enter international markets face three major challenges: access to finance, access to buyers and markets, and predictable business rules that support free trade.

He urged BRICS countries to strengthen support for women entrepreneurs and women-led businesses by improving access to credit and markets. He also called for greater participation of women-owned enterprises in international exhibitions, conferences, seminars and business forums.

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India Pushes Common BRICS Platform for Digital Trade

Piyush Goyal said BRICS members had agreed under the Jaipur Consensus to explore a common platform for international trade. Such a platform could help connect entrepreneurs with buyers and markets while enabling financial intermediaries to support women entrepreneurs and small businesses.

He also urged BRICS nations to work towards a common platform for electronic trade documentation, including e-invoices, electronic bills of lading and e-customs declarations.

Focus on Women Entrepreneurs and MSMEs

Piyush Goyal called for greater participation of women-owned enterprises in global business platforms and proposed sector-specific women-led business delegations between BRICS member countries.

He also highlighted the potential for women founders and MSMEs to contribute to services and the digital economy. With global services trade approaching $10 trillion, he said the relatively low level of services trade among BRICS economies indicated substantial room for expansion.

On access to finance, Piyush Goyal asked the BRICS Women’s Business Alliance and BRICS Business Council to ensure that a proposed invoice-discounting platform reflects the actual requirements of women exporters. He also urged governments, banks and Exim Banks to consider such invoices while making lending decisions.

BRICS Trade Cooperation in Focus

With global trade facing volatility and uncertainty, Piyush Goyal stressed the need for BRICS nations to increase intra-bloc trade while continuing to engage with the broader global economy. He said predictable rules, open borders and an environment that encourages free trade are essential for international business to thrive.