India’s trade performance has remained strong, with exports showing consistent growth despite global challenges. Minister of State for Commerce Jitin Prasada informed the Parliament that from April to January of the financial year 2025–26, total exports of goods and services increased by 5.26% to $714.73 billion compared to the previous year. Over the period from 2021–22 to 2024–25, exports saw a compound annual growth rate of 6.9%, reaching $828.25 billion in 2024–25.
The government’s efforts to boost exports include a focus on traditional strengths and emerging technology-driven sectors. By creating a supportive ecosystem for exporters, especially MSMEs, India aims to enhance its global presence. Initiatives like the Foreign Trade Policy (FTP) 2023 and the RoDTEP scheme, which neutralizes export taxes, play crucial roles in supporting India’s export growth.
India’s proactive trade diplomacy has led to the conclusion or advancement of eight major agreements with key partners. Notable pacts include the India-EU FTA, offering access to the EU tariff universe, and the India-EFTA Trade and Economic Partnership Agreement (TEPA), which aims to increase FDI. Trade agreements with New Zealand, Oman, and the UK are expected to expand market access and create favorable business environments.
