India will certainly cross Rs. 70,55,400 crore (US$ 825 billion) exports in FY26: Union Minister of Commerce and Industry, Mr. Piyush Goyal
- IBEF
- June 12, 2025
Union Minister of Commerce and Industry, Mr. Piyush Goyal, stated that despite global geopolitical disruptions, India has demonstrated strong economic resilience and recorded its highest-ever total exports of goods and services at Rs. 70,55,400 crore (US$ 825 billion) in FY25. This marks a rise from Rs. 66,53,456 crore (US$ 778 billion) in FY24, driven significantly by the services sector. India remains on track to surpass this figure in FY26, with expectations to exceed Rs. 70,55,400 crore (US$ 825 billion) and aim for even higher growth, according to Mr. Piyush Goyal. He acknowledged the adverse impact of international conflicts, including the Russia–Ukraine war, the Israel–Hamas war, and the Red Sea crisis. However, he reaffirmed confidence in India’s ability to sustain export momentum.
The Federation of Indian Export Organisations (FIEO) projects that total exports may rise over 21% to reach Rs. 85,52,000 crore (US$ 1 trillion) in FY26. Merchandise exports are expected to increase by 12% to Rs. 44,89,800 – 45,75,320 crore (US$ 525–535 billion), while services exports may grow around 20% to Rs. 39,76,680- 40,62,200 crore (US$ 465–475 billion), driven by diversified sourcing by global buyers. In FY25, services exports rose to a record Rs. 33,05,348 crore (US$ 386.5 billion), contributing significantly to overall export growth. Key sectors included telecommunications, computer and information services, transport, travel, and financial services. Meanwhile, discussions continue on the proposed national e-commerce and retail trade policies, with the Department for Promotion of Industry and Internal Trade (DPIIT) seeking inputs from the National Traders’ Welfare Board. Separately, the World Bank has retained India’s gross domestic product (GDP) growth forecast at 6.3% for FY26, despite global economic growth projected at a modest 2.3%, the weakest in 17 years excluding recessionary periods.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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