Speaking to CNBC-TV18 after Finance Minister Nirmala Sitharaman presented Budget 2026, Goyal said the government sees services as a major area of opportunity for India in global trade and is working to simplify rules that affect exporters. “We see tremendous potential to increase our share in global trade and services,” he said.
He said the Budget includes measures to streamline compliance and review safe harbour rules for services exports. The government also plans to examine the services sector more closely through a dedicated committee, recognising it as a key strength for the economy.
At the same time, Goyal said the broader Budget framework supports long-term growth across manufacturing, technology, education and infrastructure, which together strengthen India’s export capacity. He said large investments in infrastructure, inland waterways, high-speed rail corridors and logistics will improve efficiency and help exporters stay competitive.
“This is a budget which reflects a future-ready Bharat,” he said adding that policy measures aim to support businesses, MSMEs, women, youth, and technology-led industries.
Infrastructure investment, inland waterways expansion, high-speed rail corridors, and large capital spending allocations will also support logistics efficiency and export competitiveness.
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Goyal said the budget supports both labour-intensive and technology-intensive export sectors. He said policy measures focus on textiles, leather, sports goods, marine exports, animal husbandry, and agriculture-linked sectors to support jobs and export earnings.
On the India-European Union free trade agreement, Goyal said both sides are working to speed up legal review and approvals. He said the agreement could significantly increase bilateral trade. He said, “We should be able to double our bilateral trade.”
Talking about special economic zones (SEZs), he said the government is working on allowing units to sell part of surplus production in the domestic market at calibrated duty levels. He said this will help use excess capacity while maintaining a level playing field for domestic manufacturers. The approach will be sector-specific and may exclude sectors such as petroleum refining.
He also highlighted long-term tax exemption support for data centres, which could help attract global investment and support sectors such as artificial intelligence, cloud services, and digital infrastructure. He said the move can support energy investment, including renewable power and storage infrastructure.
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Goyal said the Budget is designed with a long-term perspective rather than short-term global uncertainties. He said policy focus remains on building economic capacity, improving quality standards, and supporting export competitiveness over the long term.
For the full interview, watch the accompanying video
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