India is expected to surpass Rs. 70,55,400 crore (US$ 825 billion) in exports by FY26, according to the Union Minister of Commerce and Industry

The Union Minister of Commerce and Industry, Mr. Piyush Goyal, announced that despite global geopolitical challenges, India has shown remarkable economic resilience, achieving its highest-ever total exports of goods and services at Rs. 70,55,400 crore (US$ 825 billion) in FY25. This represents an increase from Rs. 66,53,456 crore (US$ 778 billion) in FY24, largely fueled by the services sector. Mr. Piyush Goyal indicated that India is poised to exceed this figure in FY26, with aspirations to attain even greater growth, suggesting expectations to go beyond Rs. 70,55,400 crore (US$ 825 billion). He recognized the negative effects of global conflicts, such as the Russia–Ukraine war, the Israel–Hamas conflict, and the Red Sea crisis. Nevertheless, he expressed confidence in India’s capability to maintain its export growth. The Federation of Indian Export Organisations (FIEO) anticipates that total exports could increase by over 21% to hit Rs. 85,52,000 crore (US$ 1 trillion) in FY26. Merchandise exports are projected to rise by 12% to Rs. 44,89,800 – 45,75,320 crore (US$ 525–535 billion), while services exports are expected to grow by approximately 20% to Rs. 39,76,680- 40,62,200 crore (US$ 465–475 billion), propelled by diversified sourcing from global buyers. In FY25, services exports surged to a record Rs. 33,05,348 crore (US$ 386.5 billion), playing a crucial role in the overall growth of exports. Major contributing sectors included telecommunications, computer and information services, transport, travel, and financial services. Meanwhile, ongoing discussions are taking place regarding the proposed national e-commerce and retail trade policies, with the Department for Promotion of Industry and Internal Trade (DPIIT) seeking feedback from the National Traders’ Welfare Board.