India's exports continue to grow in May: Piyush Goyal
What's the story
Commerce and Industry Minister Piyush Goyal has announced that India's exports have witnessed healthy growth in the first three weeks of May. He said the trend observed in April is continuing into this month. "I have seen the numbers of exports even in the last three weeks. The pace of growth which we witnessed in April continues into May," Goyal told reporters on Saturday.
Export performance
India's exports grew by nearly 14% in April
In April, India's exports grew by 13.78% to $43.56 billion, the highest monthly outbound shipments in over four years. The growth was mainly driven by petroleum products amid rising crude oil prices. However, the trade deficit widened to a three-month high of $28.38 billion due to an increase in imports during the same period.
Investment surge
FDI for 2025-26 hits all-time high of $95 billion
Goyal also revealed that Foreign Direct Investment (FDI) for 2025-26 has hit an all-time high of $95 billion, a 17% year-on-year (YoY) increase. He attributed this growth to India's status as a preferred investment destination for global investors. "The government has absorbed significant amounts of costs, particularly for the farmers in terms of elevated fertilizer prices," Goyal said while highlighting the government's support measures amid rising costs.
Industrial milestone
Tata, ASML to set up plant in Dholera, Gujarat
On the semiconductor front, Goyal announced that Tata and ASML are setting up a plant in Dholera, Gujarat. He called it a major achievement considering ASML's initial hesitation three years ago when the semicon mission was launched. "Because I still remember, when the semicon mission was launched 3 years ago, then ASML was hesitating," he said while emphasizing this significant industrial development.