New Delhi: India’s trade performance has remained robust and resilient, with exports recording a steady upward trajectory both in the current financial year and over the longer term (FY 2021–25) despite the global uncertainty, the Parliament was informed on Tuesday.
Despite persistent supply chain disruptions due to geopolitical tensions and volatile commodity prices, India’s exports have continued to expand in a broad-based manner.
During April–January of FY 2025–26, total exports of merchandise and services registered a growth of 5.26 per cent to $714.73 billion from 679.02 billion in the same period of the previous year, Minister of State for Commerce Jitin Prasada said in the Lok Sabha.
Over the period 2021–22 to 2024–25, exports achieved a compound annual growth rate of 6.9 per cent, with values increasing sharply from $497.90 billion in 2020–21 to $828.25 billion in 2024–25. This consistent expansion underscores India’s ability to sustain diversified and resilient export growth, positioning the country as a strong player in global trade even under challenging external conditions, the minister said.
The government is consistently working to boost exports and expand the country’s global footprint, combining traditional strengths with emerging technology driven sectors. Central to this ambition is the creation of a supportive ecosystem where exporters, particularly MSMEs, can compete confidently in international markets. This effort is reinforced by a dynamic policy framework, strong financial incentives, a growing digital infrastructure, improved trade facilitation, and a determined push to secure deeper market access through next generation trade agreements.
The Foreign Trade Policy (FTP) 2023, designed as a flexible and evolving framework to adapt to global shifts, has emerged as a key enabler of India’s export momentum.
The RoDTEP scheme plays a central role by neutralising embedded taxes on exports and enabling Indian goods to remain competitive worldwide. The recently launched Export Promotion Mission (EPM) 2 further reinforces this effort. The Government has approved the EPM with a budgetary outlay of Rs. 25,060 crores for FY 2025–26 to FY 2030–31.
The government has also recently notified a time-limited “RELIEF” Scheme to address elevated export risks arising from geopolitical disruptions in the Gulf and West Asia maritime corridor, the minister highlighted
Prasada also said that the country’s proactive trade diplomacy complements policy measures. With as many as 19 FTAs and a renewed push since 2021, India has concluded or advanced eight major agreements with key partners.
The India-EU FTA, a landmark pact offering access to almost the entire EU tariff universe, marks a significant step in integrating India more deeply into global value chains. The India-EFTA Trade and Economic Partnership Agreement (TEPA) is India’s first FTA to include a dedicated commitment aiming to increase FDI from its investors. Trade agreements with New Zealand, Oman, and the UK will broaden market access, enhance services mobility, secure long term investments, and create predictable regulatory environments for businesses, the minister added.
(IANS)
