India Aims for USD 1 Trillion Export Milestone in 2025-26

Indian enterprises are setting their sights on a remarkable feat, targeting an export value of USD 1 trillion for the financial year 2025-26. According to RC Ralhan, President of the Federation of Indian Export Organisations, the goal envisions merchandise exports scaling between USD 525 billion and USD 535 billion, alongside services exports anticipated to touch USD 465 billion to USD 475 billion.

The burgeoning ambition follows an impressive performance in the financial year 2024-25, when India's total exports soared to a historic high of USD 824.9 billion, marking a 6.01 per cent rise from the previous year's USD 778.1 billion. Surpassing initial projections of USD 800 billion, this achievement sets a new benchmark in India's foreign trade history.

Strategies to bolster future export growth were outlined by FIEO, emphasizing expansion into emerging markets and fortifying trade ties with current partners. A shift from raw materials to value-added products could yield higher earnings and mitigate exposure to global commodity price changes, FIEO noted, underlining the importance of Free Trade Agreements for smoother international market access and reduced trade barriers.

(With inputs from agencies.)