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<\/p>\nA file photo of Union Minister Piyush Goyal (PTI)<\/p>\n
Commerce and Industry Minister Piyush Goyal on Saturday said that despite global turbulence, India\u2019s economy continues to show remarkable resilience and momentum. He added that the government\u2019s fiscal and monetary policies were effectively keeping inflation in check.<\/p>\n
Speaking in Delhi, in reference to the Donald Trump administration\u2019s tariffs on Indian imports, Goyal said,\u00a0\u201cDespite 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.”<\/p>\n
The Union Minister\u2019s 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.<\/p>\n
At the event, Goyal also said, \u201cThe GST reform plan has been underway since before the US elections took place, meaning it has nothing to do with the tariffs.”<\/p>\n
\u201cIn the first quarter, we saw a historic growth of 7.8 per cent this year,” the Union Minister said in Delhi.<\/p>\n
\u201cThe 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.<\/p>\n
\u201cLast month, the lowest inflation rate in eight years was 1.5 per cent,” he said, noting that S&P had raised India\u2019s rating for the first time in 17 to 18 years.<\/p>\n
Goyal also pointed to consumer demand as a sign of economic strength, saying, \u201cMaruti Suzuki sold 165,000 vehicles in just eight days, the first eight days of Navratri.”<\/p>\n
Also speaking at the event, Finance Minister Sitharaman said, \u201cIf GST cuts are a response to the tariff war, I think even on the day of the GST Council, we clearly said this was in the works.”<\/p>\n
\u201cWho would have thought of a tariff war at that time? Several groups of ministers were working in this one-and-a-half years. So, these were discussed at various levels and at various times. It\u2019s no way close to the tariff war. This (GST cuts) had to happen. It has happened now,” she said.<\/p>\n
Meanwhile, Information & Broadcasting Minister Ashwini Vaishnaw underscored India\u2019s growing success in electronics manufacturing.<\/p>\n
\u201cThis 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.<\/p>\n
ALSO READ | FM Nirmala Sitharaman Launches New Foreign Currency Settlement System In GIFT City<\/a><\/p>\n 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\u00a0multiple\u00a0desks.<\/p>\n 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\u00a0multiple\u00a0desks. <\/p>\n First Published:<\/p>\n October 18, 2025, 13:47 IST<\/p>\n News<\/a> india<\/a> ‘India Progressing Despite International Difficulties’: Piyush Goyal After Trump Tariff RowDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/p>\n Read More<\/p>\n","protected":false},"excerpt":{"rendered":"Last Updated:October 18, 2025, 14:01 IST Union Minister Piyush Goyal said India\u2019s economy is showing strong growth and…\n","protected":false},"author":2,"featured_media":83121,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[57579,114,184,85,57580,22514,46,57578],"class_list":["post-83120","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-ashwini-vaishnav","tag-business","tag-economy","tag-il","tag-india-gst","tag-india-tariffs","tag-israel","tag-piyush-goyal-indian-economy-remark"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/83120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=83120"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/83120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/83121"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=83120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=83120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=83120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Vani](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2025\/10\/xy5nSNp3_400x400-2025-07-ae0eb4b8d53738cf7e87067a599a2b04.jpg\" "\\"Vani")
Vani Mehrotra<\/a><\/p>\n