‘Continue to see relentless growth’: Piyush Goyal on India’s GDP after 8.2% Q2 surge; credits reforms and ease-of-business push

File photo: Union commerce and industry minister Piyush Goyal (Picture credit: ANI)

Union commerce and industry minister Piyush Goyal on Saturday said India’s stronger-than-expected 8.2% GDP expansion in the July–September quarter reflects the government’s sustained reform drive and measures to make business operations smoother. Speaking during a national padyatra in Gujarat, he said the numbers have reinforced India’s position as the world’s fastest-growing major economy despite global trade headwinds.Goyal said several structural steps aimed at boosting domestic manufacturing and improving ease of doing business have supported growth.

“The 8.2 per cent growth reflects the host of reform measures taken by the government.

A number of measures have been taken to boost domestic manufacturing and promote ease of doing business,” he said, as quoted by news agency PTI.The ‘padyatra’, organised by the Gujarat government to mark Sardar Vallabhbhai Patel’s 150th birth anniversary, is taking place from Karamsad to the Statue of Unity.

The minister also noted that exports are showing “healthy growth,” with merchandise shipments inching up 0.63% to $254.25 billion during April–October this fiscal, reported PTI.

Imports rose 6.37% to $451.08 billion in the same period.He said the latest data has “refuted claims made by certain quarters” and added that India would “continue to see relentless growth.” Services exports rose to $237.55 billion in the first nine months of the fiscal year, up from $216.45 billion in April–October 2024, as per PTI.According to official data, the 8.2% GDP growth — following 7.8% in the April–June quarter — was lifted by strong public investment, services demand, industrial output and consumption, aided by a low base.

Manufacturing grew 9.1% in Q2, while construction expanded 7.2%.Prime Minister Narendra Modi also called the Q2 performance “very encouraging” and finance minister Nirmala Sitharaman stated that India continues to lead global growth due to reforms, consumption momentum and fiscal consolidation.