India’s overall exports are anticipated to reach $1 trillion: FIEO

By Admin

28 May, 2025

India’s export sector is poised for a monumental leap as the Federation of Indian Export Organizations (FIEO) projects that the country’s total exports merchandise and services combined are anticipated to touch the $1 trillion mark in the fiscal year 2025–2026. This bullish forecast follows India’s impressive performance in FY 2024–25, where total exports stood at a solid $825 billion, reflecting the nation’s resilience amid global economic headwinds.

Robust Growth Amid Global Challenges

India’s export growth in FY24 signals a positive trend, with exports increasing by 6.01% over $778.1 billion recorded in FY19. Despite international trade uncertainties, this growth showcases India's expanding footprint in the global market and underlines the competitiveness of Indian goods and services.

Merchandise and Services Exports on the Rise

In FY 2024–25, India recorded merchandise exports worth $437 billion, with expectations that this figure will climb to $525–$535 billion in FY 2025–26. Meanwhile, services exports, which reached $387 billion in the last fiscal year, are projected to grow significantly to approximately $465–475 billion. This combined surge in both sectors lays the foundation for the projected $1 trillion export milestone.

Sector-Wise Contribution: Engines of Export Growth

Several key sectors are expected to drive India’s export momentum in the coming year:

• Petroleum products: $70 billion
  
  

• Electrical and electronics: $60 billion
  
  

• Agriculture: $55 billion
  
  

• Machinery and chemicals: $40 billion each
  
  

• Pharmaceuticals: $30 billion
  
  

• Apparel and made-ups: $23–25 billion
  
  

• Gems and jewellery: $30–35 billion
  
  

These industries are not only essential to India's trade portfolio but also central to job creation and economic development.

Government Data Reinforces Confidence

According to the Ministry of Commerce and Industry, non-petroleum exports saw a significant jump of 6.43%, rising to $337.01 billion from $316.64 billion the previous year. Merchandise exports during April–February of FY 2024–25 remained steady at $395.63 billion, a marginal increase of 0.06% over the same period last year.

Policy Support: A Crucial Catalyst

While the numbers are promising, FIEO has emphasized the need for strong policy backing to sustain and accelerate this growth. Exporters are calling for a favorable trade environment, streamlined procedures, and continued government incentives to ensure India remains on track to achieve its ambitious export goals.

Conclusion

India’s trajectory toward becoming a $1 trillion export economy reflects its growing prominence in global trade. With the right mix of sectoral contributions, government support, and global demand, this milestone seems within reach. The coming fiscal year could very well mark a historic chapter in India’s export journey one that cements its role as a key player in the world economy.