India’s export landscape is poised for robust growth in the upcoming years, according to a high-ranking government official. On Wednesday, Santosh Kumar Sarangi, the Director General of Foreign Trade, emphasized the need for a pragmatic approach among exporters as they navigate the complexities of global trade. He highlighted the current environment as a "golden" chance for India to enhance export capabilities and boost manufacturing competitiveness.

Navigating Global Trade Challenges

Despite the challenges posed by global trade uncertainties and tariff fluctuations, Sarangi remains optimistic about the future of Indian exports. Speaking at the Sourcex India 2025 exhibition organized by the Federation of Indian Export Organisations (FIEO), he projected that India’s exports could surpass USD 800 billion in goods and services this year, up from USD 778 billion last year.

• Key Points of Growth:
  • Strategic navigation of current trade dynamics
  • Golden opportunities for enhancing manufacturing
  • Projected exports exceeding USD 800 billion

Concerns Over Tariffs

The recent trade policies introduced by the U.S., including reciprocal tariffs on countries like China and potential duties on India effective April 2, have raised concerns among exporters. Sectors such as engineering and pharmaceuticals are particularly wary, as these tariffs may impact shipments to the United States, India’s largest trading partner.

Sarangi acknowledged these temporary setbacks in exports, stating that while there may be a decline in recent months, the overall sentiment among exporters remains positive. "Our exporting communities are reporting a healthy influx of order inquiries, which reassures me that we will see an upward trend in exports," he remarked.

Government Initiatives Supporting Growth

To counteract these challenges and promote domestic manufacturing, the government has introduced various initiatives, including production-linked incentive schemes. These measures aim to simplify business operations and enhance the competitiveness of Indian manufacturers in the global market.

Positive Outlook for Future Exports

Despite a decline of 10.85% in goods exports to USD 36.91 billion in February, the overall figures for April-February this fiscal year show a total of USD 395.63 billion in goods exports, alongside USD 354.90 billion in service exports.

Ajay Sahai, FIEO’s Director General, echoed Sarangi’s sentiments, asserting that India’s export sector is on track for healthy growth. "Our order books are looking promising, and resolving tariff uncertainties will further bolster our shipments," he stated.

Conclusion

In summary, while challenges in global trade persist, India’s export sector is projected to thrive in the coming years, supported by strong domestic initiatives and a resilient exporting community. As exporters continue to adapt to the evolving landscape, the future looks bright for India’s economic growth through international trade.