The commerce ministry will formally release trade data for June on July 15.
Goyal said that despite 50 % tariffs imposed by the US, India’s exports in 2025-26 recorded healthy growth. “Even now, if we see April, May and 14 days of June. I have data until June 14; it (exports growth) is 15%,” he said during an interaction with chartered accountants in Mumbai.
India’s exports increased 18% to scale a six-month high of $45.2 billion in May, while the trade deficit widened to $ 28.21 billion.
During April-May, exports went up 16.09% to $88.91 billion and imports increased 15.14% to $145.35 billion. The trade deficit stood at $ 56.44 billion during the period.
Goyal also urged chartered accountants to contribute to the goal of ‘Viksit Bharat‘ (developed India).
US trade talksUS trade representative Jamieson Greer and Goyal will hold two-day talks this week on the first phase of the bilateral trade agreement.
“For the US trade deal talks, tomorrow my counterpart is coming to Delhi,” Goyal said.
The talks are slated for June 23-24.
Chief negotiator-level discussions on the pact were held on June 2-4 in Delhi against the backdrop of Greer proposing an additional 12.5% duty on 54 countries, including India, over alleged failure to restrict imports of goods produced with forced labour in third countries. Greer has proposed new tariffs on most Indian goods under Section 301 of the US Trade Act of 1974 over forced labour and is starting another probe on excess industrial capacity.
Commerce secretary Rajesh Agrawal recently stated that the discussions between the two ministers are expected to be centred around giving final touches to the framework deal.