A decade of reforms makes India a reliable global growth native: Minister Goyal | Mint

New Delhi: A decade of reforms under Prime Minister Narendra Modi has the position of India as a reliable global growth native, Piyush Goyal, trade in trade and industry, said on Sunday, the Swedish Chamber of Commerce India’s Business Climate Survey 2025-26. In a position on social media platform X, Goyal noted that increasing confidence in India’s business climate is visible, with most surveyed businesses planning to draw up investments in the coming year. “A large number of businesses surveyed expect their turnover to increase over the next year, especially those involved in construction and building, aviation and defense, IT & electronics and business services,” he said. Swedish Chamber of Commerce is an independent non -profit organization and works to promote Swedish businesses in the country. Goyal added that India has become increasingly central to global acquisition strategies over the past few years, driven by cost -effectiveness, with the survey confirming the confidence in India’s growth story and its rise as an important pivot in global value chains. Certainly, the manufacturing production of India grew 4.5% to £ 29.54 trillion in FY25, according to the latest data from the Ministry of Statistics and Program Implementation (MOSPI) released last week. Improvement in exports An important highlight of the FY25 data is a slight improvement in exports this year, while a reduction in imports helped reduce the shock due to negative net exports. Exports grew 6.3% in FY25 in FY25 from the previous period to £ 40.68 trillion, while the import was contracted by 3.7% annually to £ 42.29 trillion. Also read: The export of India faces geopolitical problems, but trading transactions provide relief: RBI report “The growing confidence in India’s business climate also reflects in the majority of businesses questioned, especially those in manufacturing, which wants to increase their investment in the coming year,” Goyal said. “The report confirms the confidence in the growth story of India and also their focus on the development of India as a pivot in global value chains,” he added. Interestingly, during his three -day official visit to France, the remarks of Goyal come from a five -day tour of France and Italy from June 1 to June 5, which aims to deepen India’s strategic and economic ties with important European partners. Trade agreement with the EU India is actively engaged in a trade agreement with the European Union (EU), with the aim of strengthening its global economic status. India and the EU are aimed at finalizing their free trade agreement by the end of 2025, focusing on market access, digital trade and innovation. The EU, the largest trade partner of India, made € 124 billion in goods and € 60 billion in 2023 in 2023, with the agreement expected to further strengthen this partnership. The India-UK Free Trade Agreement, which was finalized on May 6, is an important milestone, reducing rates at 90% of UK imports to India and granted Navest Lights at 99% of Indian exports to the UK. This will increase the bilateral trade by £ 25.5 billion annually by 2040 and add £ 4.8bn to the British economy each year.