Challenging times for global trade; India will certainly cross $825 billion exports this fiscal: Piyush Goyal
The Hindu
India's exports set to surpass $825 billion in 2025-26 despite global challenges, with growth expected in key sectors.
“The world trade is facing severe geo-political challenges, but India has consistently emerged as a winner in such times, and the country’s exports of goods and services will certainly cross $825 billion in 2025-26,” Commerce and Industry Minister Piyush Goyal said.
Despite global economic uncertainties due to the Russia-Ukraine conflict, Israel-Hamas war and the Red Sea crisis, the country's overall exports touched an all-time high of $825 billion against $778 billion in 2023-24.
“As per estimates of certain multi-lateral bodies, there would be a contraction in global trade,” Mr. Goyal said.
"The world is going through severe geo-political challenges… So these are challenging times, but India has always emerged [as] a winner in challenging times and we did a record $825 billion exports in 2024-25. This year, we hope to do much better," he told PTI.
When asked if last fiscal's figures will be crossed, he said, "We will certainly be able to cross that".
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Apex exporters' body Federation of Indian Export Organisations (FIEO) has projected that the country's overall goods and services exports are expected to grow by over 21% year-on-year to $1 trillion during 2025-26. FIEO president S.C. Ralhan has said the healthy growth may come on account of international buyers seeking to diversify their sourcing in the wake of global economic uncertainties.
