Industry leaders foresee a stronger economic position for India in 2026, with a boost in exports anticipated from recent free trade agreements. The stability of policies and enhanced global trade relations are expected to drive growth in the upcoming year. Notably, agreements with countries like Oman, New Zealand, and the UK are projected to significantly enhance India’s export potential.
President of All Gujarat Textile Federation, Ashok Jirawala, expressed pride in India’s global ranking advancement to the fourth position. He credited this achievement to a consistent government and supportive policies. Jirawala highlighted the government’s positive measures for the textile industry, such as improved yarn availability, which has facilitated sectoral growth. The recently inked trade pacts are seen as opening new avenues for exporters, with expectations of a substantial export surge in the near future.
Nikhil Madrasi, President of the Southern Gujarat Chamber of Commerce and Industry, expressed optimism for the new year, emphasizing India’s economic progress surpassing Japan and aiming for the third-largest global economy status by 2028. To achieve this target, Madrasi stressed the necessity of boosting exports and diversifying global trade partnerships beyond reliance on the US market. Nainesh Pachchigar, Gujarat state head of the India Bullion and Jewellers Association, highlighted the pivotal role of the gems and jewellery sector in India’s export landscape. The sector currently exports jewellery and gems worth approximately $7.8 million daily, with efforts underway to further escalate these figures. Pachchigar expects that the recently concluded free trade agreements will provide an added impetus to this growth trajectory.
