India's Trade Minister Piyush Goyal announces 15% export rise and upcoming EU and US trade deals

Commerce and Industry Minister Piyush Goyal said India's merchandise exports rose about 15% in the April‑June 14 period, with a six‑month high of 18% growth in May and a trade deficit of $28.21 billion. Full export‑import data for June will be released on July 15.

Goyal also confirmed that India and the 27‑nation European Union will sign a long‑awaited free‑trade agreement by December, with the pact coming into force in February‑March 2027. The deal is expected to give roughly 93% of Indian exports duty‑free access to the EU market, expanding market share for textiles, leather, gems, jewellery and engineering goods.

In parallel, Goyal announced that U.S. Trade Representative Jamieson Greer will visit New Delhi this week for two‑day ministerial talks on the first phase of a bilateral trade agreement. The discussions will address finalising the framework deal, the expiry of a temporary 10% U.S. tariff on imports, and ongoing Section 301 investigations affecting several countries, including India. Both sides aim to close remaining issues and possibly launch the "very, very vibrant" first phase of the pact by mid‑next month.