Summary:

Union Minister Piyush Goyal remarked that amid global geopolitical challenges, India demonstrated significant economic resilience, reaching its highest-ever total exports of goods and services at Rs. 70,55,400 crore (US$ 825 billion) in FY25, up from Rs. 66,53,456 crore (US$ 778 billion) in FY24. The services sector drove the majority of the expansion. Goyal expressed optimism in exceeding this amount in FY26, despite hurdles like as the Russia-Ukraine war, IsraelHamas conflict, and Red Sea issue, underlining India's ongoing export momentum.

The Federation of Indian Export Organisations (FIEO) predicts a 21% increase in overall exports to Rs. 85,52,000 crore (US$ 1 trillion) in FY26. Merchandise exports may rise 12% to Rs. 44,89,800-45,75,320 crore, while services exports might rise 20% to Rs. 39,76,680-40,62,200 crore. In FY25, service exports reached a new high of Rs. 33,05,348 crore. IT, transportation, and finance were among the key sectors. The World Bank maintained India's FY26 GDP prediction of 6.3%, despite global growth dropping to 2.3%.

Source: IBEF

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