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Commerce and Industry Minister Piyush Goyal has said that India's trade deficit is falling at a rapid pace and the exports are expected to see positive growth in the coming months. He said that countries in the world are facing a slowdown and global trade is relatively weak right now. 

Given the challenging situation, the minister said high interest rates, and cut down in discretionary spending have led to a fall in the exports of ready-made apparel and the gem and jewellery sector, and added that lower petroleum prices have resulted in lower export numbers. 

Talking about his bilateral meetings, Goyal said that more and more countries are looking at expanding trade and business with India and there is a lot of interest to invest in India. As Chandrayaan-3 successfully soft-landed on the Moon to propel India into an elite group of nations, he said that at least three countries approached him for a partnership with India in the space sector. He also said ‘so, space is going to become a new frontier in which India will provide a leadership role at affordable competitive prices, modern technology and with full self-reliance, where we have the capabilities of our people to reach the moon and aspire for beyond’.