New Delhi, May 27
The Federation of Indian Export Organisations (FIEO) on Tuesday said the country is projected to reach the export figure of $1 trillion by the end of this fiscal (FY26).
This will constitute merchandise exports at $525-535 billion -- a growth of about 12 per cent from last fiscal -- and services exports at $465-475 billion, a growth of nearly 20 per cent.
India's export sector achieved a significant milestone in the fiscal year 2024–25, with total exports reaching a record $824.9 billion, marking a 6.01 per cent increase from the previous year's $778.1 billion.
Services exports surged 13.6 per cent to $387.5 billion in FY25, driven by strong performances in IT, business, financial and travel-related services.
Merchandise exports reached $437.4 billion, with non-petroleum goods exports hitting a record $374.1 billion, up 6 per cent from the previous year.
S.C. Ralhan, President, FIEO, said that to build upon this momentum and achieve sustained growth in both goods and services exports, certain strategies are recommended.
“Expanding into emerging markets and strengthening trade relations with existing partners can mitigate risks associated with over-reliance on specific regions. Also, shifting focus from raw materials to value-added products can increase export earnings and reduce vulnerability to price fluctuations in global commodity markets,” the FIEO recommended.