FIEO Forecasts India’s Total Exports to Reach $1 Trillion in Fiscal Year 2026
India Aims for $1 Trillion in Exports by 2025-26
India is on track to achieve an impressive milestone in its export industry as it targets reaching $1 trillion in exports of goods and services by the financial year 2025-26. The Federation of Indian Export Organisations (FIEO) predicts that this growth will be primarily driven by key sectors such as electronics, agriculture, pharmaceuticals, and petroleum.
Positive Projections for India’s Export Growth
The FIEO President, S C Ralhan, anticipates a significant uptick in India’s merchandise exports, from $437 billion in 2024-25 to a range of $525-$535 billion in 2025-26. Additionally, services exports are expected to see a robust increase from $387 billion to around $465-$475 billion for this fiscal year. These encouraging projections are based on historical export data that showcase India’s resilience in the face of global economic challenges.
Key Sectors Driving Export Growth
With electronics, agriculture, and Pharmaceuticals at the forefront, India is poised to achieve its ambitious export target. Sectors like petroleum products are projected to contribute $70 billion, electrical and electronics $60 billion, and agriculture $55 billion. Machinery, chemicals, pharmaceuticals, apparel, gems, and jewelry also play vital roles in boosting exports.
Policy Support Crucial for Sustaining Growth
The FIEO emphasizes the need for policymakers to create a favorable environment and provide incentives to aid exporters in maintaining this upward trajectory. Sector-specific task forces can assist in understanding requirements and developing compliance roadmaps. Moreover, the establishment of a national digital infrastructure can facilitate efficient generation of DPPs, while grants to MSMEs for adopting traceability systems can enhance competitiveness.
