Piyush Goyal Drives India’s Export Growth: Focus on MSMEs, Export Credit, and High-Tech Manufacturing

India’s export ecosystem witnessed a significant push last week as Union Minister of Commerce and Industry, Shri Piyush Goyal, actively engaged with stakeholders across banking, MSMEs, manufacturing, and infrastructure sectors. His nationwide outreach is part of the government’s broader strategy to strengthen India’s position in global trade by empowering exporters and streamlining credit and infrastructure support.

Strengthening Export Credit Through Banking Collaboration

To kick off the week, Minister Goyal held a high-level meeting with top officials from State Bank of India (SBI), other leading commercial banks, ECGC Ltd. (Export Credit Guarantee Corporation), and officials from the Ministry of Commerce and Industry. The core agenda was to improve export credit accessibility, particularly for small and medium exporters, who often face challenges in securing timely and affordable financing.

Export credit is a vital tool that helps Indian exporters fulfill large international orders, manage working capital, and remain competitive in global markets. During the meeting, Goyal urged banks to innovate and find new ways to extend credit facilities to exporters at reduced interest rates and with quicker processing timelines.

He emphasized that a robust export credit mechanism is essential not only for sustaining existing export businesses but also for attracting new entrants, especially startups and MSMEs, into the export arena.

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Outreach to Jammu & Kashmir MSMEs: On-Ground Engagement in Srinagar

As part of his grassroots engagement strategy, Piyush Goyal visited Srinagar, where he held interactions with the Kashmir Chamber of Commerce & Industry, the MSME Development Forum (Kashmir Chapter), and representatives from the Jammu & Kashmir Fruits and Vegetable Processing and Integrated Cold Chain Association.

These meetings offered a platform for local entrepreneurs and MSMEs to voice their concerns, share challenges, and seek direct support from the central government.

Key focus areas included:

• Enhancing market access for local agro-based industries
• Improving cold-chain logistics for perishables
• Simplifying export documentation
• Facilitating easier access to government export schemes

Goyal assured regional stakeholders of the government’s commitment to integrate J&K businesses into national and global value chains. He also highlighted the role of MSMEs as the backbone of India’s export engine and reiterated the Centre’s intention to scale up support for small businesses.

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High-Tech Export Manufacturing in Bengaluru’s Aerospace SEZ

Later in the week, the Minister travelled to Bengaluru, where he visited the KIADB Aerospace Special Economic Zone in Devanahalli. The SEZ houses cutting-edge facilities such as:

• Unimech Aerospace Manufacturing Limited
• Safran HAL Aircraft Engines Private Limited

Both firms are key players in India’s growing aerospace and defence export sector.

Piyush Goyal’s visit highlighted the strategic importance of high-tech, export-oriented manufacturing. These facilities contribute significantly to India’s ambition to become a global hub for aircraft components, engines, and aerospace innovations. The government is keen to support such sectors through targeted policy interventions, infrastructure upgrades, and foreign investment facilitation.

His interactions with industry leaders at the SEZ underscored the need for continuous innovation, skill development, and R&D in pushing India’s exports into high-value, technology-driven categories.

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Fast-Tracking Infrastructure in Gujarat & Rajasthan: PMG Review

Concluding a packed week, the Minister chaired a review meeting via the Project Monitoring Group (PMG) to evaluate and resolve bottlenecks in critical infrastructure projects across Gujarat and Rajasthan.

These reviews are essential for fast-tracking large-scale developments such as:

• Industrial corridors
• Export logistics parks
• Port and rail connectivity
• Power and utility infrastructure

The PMG platform brings together multiple ministries and state departments to coordinate efforts, resolve land acquisition issues, clear regulatory hurdles, and ensure timely execution.

Improved infrastructure, particularly in export-heavy regions, is expected to lower logistics costs and enhance the competitiveness of Indian goods in international markets.

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Conclusion: A Multi-Pronged Strategy for Export Excellence

Minister Piyush Goyal’s activities over the past week reflect a coordinated national effort to bolster India’s exports. From enabling credit flow and addressing MSME challenges to strengthening infrastructure and supporting tech-driven manufacturing, the government is clearly focused on creating an ecosystem where Indian exporters can thrive.

With the global economy opening up post-pandemic and newer markets emerging, this proactive engagement with key stakeholders at multiple levels is crucial for achieving India’s ambitious export targets.

As businesses gear up to scale globally, continued government support, like the one demonstrated last week, will play a pivotal role in shaping India’s journey to becoming a global export powerhouse.

📅 Published on: 14 July 2025
✍️ Author: CS Chhavi Goyal