India Continues Export Expansion Amid Global Uncertainty

India Exports Show Steady Growth Amid Global Uncertainty, Parliament Informed​

New Delhi, March 24: India’s export sector has demonstrated sustained resilience and steady growth despite ongoing global challenges, the government informed Parliament on Tuesday, highlighting a consistent upward trajectory in both the current financial year and the past few years.

Exports Rise 5.26% in FY26 (April–January Period)​

During April to January of FY 2025–26, India’s total exports, including merchandise and services, grew by 5.26 per cent to reach $714.73 billion, up from $679.02 billion in the corresponding period of the previous year.

Minister of State for Commerce Jitin Prasada shared these figures in the Lok Sabha, noting that the growth comes despite continued disruptions in global supply chains driven by geopolitical tensions and volatile commodity prices.

Strong Long-Term Growth Momentum​

India’s export performance has also remained strong over the medium term. Between FY 2021–22 and FY 2024–25, exports recorded a compound annual growth rate of 6.9 per cent.

The total export value rose significantly from $497.90 billion in FY 2020–21 to $828.25 billion in FY 2024–25, reflecting a broad-based expansion across sectors.

According to the minister, this trend underscores India’s ability to maintain diversified export growth and strengthen its position in global trade even under challenging external conditions.

Policy Push Driving Export Expansion​

The government has been actively working to enhance India’s global trade footprint by supporting exporters, particularly micro, small and medium enterprises.

Efforts include a mix of policy support, financial incentives, digital infrastructure development, improved trade facilitation, and initiatives aimed at securing better market access through trade agreements.

The Foreign Trade Policy 2023 has emerged as a key framework supporting export growth, designed to remain flexible and responsive to global economic shifts.

Key Schemes Supporting Exporters​

Several government initiatives continue to play a crucial role in boosting exports:

• RoDTEP Scheme: Helps neutralize embedded taxes on exports, improving global competitiveness of Indian goods.
• Export Promotion Mission 2: Approved with a budgetary outlay of ₹25,060 crore for FY 2025–26 to FY 2030–31 to strengthen export capabilities.
• RELIEF Scheme: A time-bound initiative aimed at mitigating export risks arising from disruptions in the Gulf and West Asia maritime corridor.

Trade Agreements Strengthen Global Integration​

India’s trade diplomacy has complemented domestic policy efforts, with the country currently having 19 free trade agreements and accelerating negotiations since 2021.

Eight major agreements have been concluded or advanced with key partners. Among them:

• The India-EU Free Trade Agreement aims to provide access to a large portion of the EU tariff space.
• The India-EFTA Trade and Economic Partnership Agreement includes a commitment to boost foreign direct investment.
• Ongoing agreements with New Zealand, Oman, and the UK are expected to expand market access, improve services mobility, and create stable regulatory frameworks.

Outlook Remains Positive​

The government emphasized that a combination of policy measures, trade agreements, and targeted schemes continues to strengthen India’s export ecosystem, enabling the country to navigate global uncertainties while maintaining growth momentum.