New Delhi, May 27 (IANS) The Federation of Indian Export Organisations (FIEO) on Tuesday said the country is projected to reach the export figure of $1 trillion by the end of this fiscal (FY26).
This will constitute merchandise exports at $525-535 billion — a growth of about 12 per cent from last fiscal — and services exports at $465-475 billion, a growth of nearly 20 per cent.
India’s export sector achieved a significant milestone in the fiscal year 2024–25, with total exports reaching a record $824.9 billion, marking a 6.01 per cent increase from the previous year’s $778.1 billion.
Services exports surged 13.6 per cent to $387.5 billion in FY25, driven by strong performances in IT, business, financial and travel-related services.
Merchandise exports reached $437.4 billion, with non-petroleum goods exports hitting a record $374.1 billion, up 6 per cent from the previous year.
S.C. Ralhan, President, FIEO, said that to build upon this momentum and achieve sustained growth in both goods and services exports, certain strategies are recommended.
“Expanding into emerging markets and strengthening trade relations with existing partners can mitigate risks associated with over-reliance on specific regions. Also, shifting focus from raw materials to value-added products can increase export earnings and reduce vulnerability to price fluctuations in global commodity markets,” the FIEO recommended.
Negotiating and implementing Free Trade Agreements (FTAs) with key partners can facilitate easier market access and reduce trade barriers, while investing in quality infrastructure, reducing logistics costs, and ensuring compliance with international standards will improve the competitiveness of Indian exports.
According to FIEO, providing SMEs with access to finance, and market information will enable them to participate more effectively in international trade.
The global trade landscape in 2025 is increasingly characterised by a resurgence of protectionist policies, marking a significant shift from the liberalisation trends of previous decades.
This protectionism manifests through heightened tariffs, non-tariff barriers (NTBs), and strategic trade measures, impacting global commerce and economic stability.
Indian exporters will have to ensure full supply chain traceability—something currently lacking in many traditional sectors like textiles, leather and electronics.
“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.
–IANS
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