'India Progressing Despite International Difficulties': Piyush Goyal After US Tariff Blow

Last Updated:October 18, 2025, 13:47 IST

Union Minister Piyush Goyal said India’s economy is showing strong growth and resilience despite global turbulence, as he referred to the US tariffs on Indian goods.

A file photo of Union Minister Piyush Goyal (PTI)

Commerce and Industry Minister Piyush Goyal on Saturday said that despite global turbulence, India’s economy continues to show remarkable resilience and momentum. He added that the government’s fiscal and monetary policies were effectively keeping inflation in check.

Speaking in Delhi, in reference to the Donald Trump administration’s tariffs on Indian imports, Goyal said, “Despite the international difficulties, in a very volatile, very turbulent international environment, India is progressing so rapidly that even the IMF had to revise its forecast upward to 6.6 per cent growth this year."

The Union Minister’s remarks came during a joint press conference with Finance Minister Nirmala Sitharaman on the auspicious occasion of Dhanteras, with a focus on how GST reforms are influencing festive season sales and consumer sentiment.

“In the first quarter, we saw a historic growth of 7.8 per cent this year," the Union Minister said in Delhi.

“The Ministry of Finance, the Reserve Bank of India, and the Monetary Fiscal Policy are taking consistent steps to ensure that India is not affected by inflation," he said.

“Last month, the lowest inflation rate in eight years was 1.5 per cent," he said, noting that S&P had raised India’s rating for the first time in 17 to 18 years.

Goyal also pointed to consumer demand as a sign of economic strength, saying, “Maruti Suzuki sold 165,000 vehicles in just eight days, the first eight days of Navratri."

Meanwhile, Information & Broadcasting Minister Ashwini Vaishnaw underscored India’s growing success in electronics manufacturing.

“This year, India has surpassed its neighbour in exporting smartphones to the United States. This is a huge achievement for our country. Some of the biggest companies, about 20 per cent of their manufacturing is now happening in India," Vaishnaw said.

Vani Mehrotra

Vani Mehrotra is the Deputy News Editor at News18.com. She has nearly 10 years of experience in both national and international news and has previously worked on multiple desks.

Vani Mehrotra is the Deputy News Editor at News18.com. She has nearly 10 years of experience in both national and international news and has previously worked on multiple desks.

News india 'India Progressing Despite International Difficulties': Piyush Goyal After US Tariff Blow

Read More