India Eyes $900 Billion Export Mark in FY26 Amid Global Headwinds

India is poised to surpass USD 900 billion in goods and services exports in the financial year 2025-26, despite mounting global challenges, according to Commerce and Industry Minister Piyush Goyal.

Speaking to an Indian business delegation in Stockholm during his official visit, Goyal stated, “We have crossed USD 825 billion exports last year. We are surely to cross USD 900 billion this year in all this global turmoil.”

FY25: Record-Breaking Export Performance

India’s total exports hit a historic high of USD 825 billion in FY24- 25, up from USD 778 billion in FY23- 24, registering robust growth amid significant geopolitical tensions, including:

• The Russia-Ukraine conflict
• The Israel-Hamas war
• The Red Sea crisis

Despite these uncertainties, the country’s export sector continued its upward trajectory, reflecting resilience in both goods and services segments. According to Minister Goyal, multilateral institutions have projected a contraction in global trade this year. Yet, India is expected to outperform global trends, maintaining its export growth momentum.

$1 Trillion Export Target on Horizon

India’s top exporters’ body, the Federation of Indian Export Organisations (FIEO), believes the country is well on track to cross the $1 trillion export mark in FY26 a bold jump of 21% over the previous year. This upbeat forecast reflects growing confidence in India’s rising presence on the global trade stage.

Strengthening Indo-Swedish Trade Ties

Minister Goyal is currently in Sweden, where he’s meeting with his Swedish counterpart and top business leaders to explore new trade and investment opportunities. The visit highlights India’s growing focus on strengthening economic ties with key European partners and expanding its global footprint through strategic collaborations.

In addition to Sweden, India is strengthening trade partnerships through a series of Free Trade Agreements (FTAs) with countries including the UAE, Australia, the UK, and members of the European Free Trade Association (EFTA).

The India-EFTA Trade and Economic Partnership Agreement (TEPA), signed in March 2024, is expected to take effect from October 1, 2025. Under this agreement, India is set to receive an investment commitment of $100 billion over the next 15 years. Minister Piyush Goyal highlighted that these newer FTAs are part of a more thoughtful, strategic approach focused on building collaborative trade relationships with developed economies.

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