India’s overall exports of goods and services are expected to touch $1 trillion in the current financial year 2025-26, according to the Federation of Indian Export Organisations (FIEO).
FIEO President S C Ralhan said the country’s merchandise exports are projected to rise from $437 billion in 2024-25 to $525-$535 billion in 2025-26. Services exports are also expected to witness a robust jump from $387 billion to about $465-$475 billion this fiscal.
The forecast is based on previous export data
This optimistic forecast comes after India’s total exports stood at $825 billion in 2024-25, showcasing strong momentum despite global economic headwinds. FY24 exports marked a 6.01 per cent increase from the previous year’s $778.1 billion.
While merchandise exports during April-February 2024-25 remained nearly flat at $395.63 billion, a marginal increase of 0.06 per cent from $395.38 billion, non-petroleum exports surged by 6.43 per cent, touching $337.01 billion, up from $316.64 billion a year ago, according to data released by the Ministry of Commerce and Industry.
Key sectors like electronics, agriculture, and pharma driving growth
Highlighting key growth drivers, Ralhan said sectors such as petroleum products are likely to contribute $70 billion, electrical and electronics $60 billion, and agriculture $55 billion.
The machinery and chemicals sectors are expected to contribute $40 billion each; pharmaceuticals $30 billion; apparel and made-ups $23–25 billion; and gems and jewellery $30–35 billion. These sectors are likely to play a pivotal role in pushing exports.
The FIEO has urged policymakers to support exporters with a conducive policy environment and incentives to maintain this growth trajectory.
“We request the government to create sector-specific task forces to study DPP requirements and build compliance roadmaps and develop a national framework or digital infrastructure that can help exporters generate DPPs efficiently. The government may also provide assistance or grants to MSMEs to adopt traceability and product lifecycle management systems,” said FIEO, as quoted by IANS.