The mango that broke a market
It is peak mango season in India. The Alphonso harvest is at its richest, the Kesar at its most fragrant.
India’s trade performance has remained robust despite global headwinds, with exports continuing on a steady growth path in both the current fiscal and the medium term, said Minister of State for Commerce & Industry Jitin Prasada on Tuesday.
To address rising export risks due to geopolitical tensions in the Gulf and West Asia, Prasada said the government has introduced a time-bound “RELIEF” scheme. This initiative is being implemented through the Export Credit Guarantee Corporation of India (ECGC), which provides risk mitigation support for exporters.
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Other supporting initiatives include the Trade Infrastructure for Export Scheme (TIES), aimed at strengthening export-linked infrastructure nationwide.
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India is also accelerating its transition to technology-driven trade governance. Platforms such as the 24×7 EIC interface, Trade Intelligence & Analytics system, Common Digital Platform for Certificates of Origin, and Trade e-Connect portal are streamlining export processes.
These digital systems enable real-time compliance tracking, faster approvals, and improved access to global market intelligence, making the export ecosystem more efficient, transparent, and data-driven.
During April–January of FY 2025–26, India’s total exports of merchandise and services rose by USD 36 billion, marking a 5.26% increase—from USD 679.02 billion in the same period last fiscal to USD 714.73 billion. The growth reflects resilience amid persistent global uncertainty, supply chain disruptions, and volatile commodity prices.
Over the longer term, India’s exports have demonstrated sustained momentum. Between FY 2021–22 and FY 2024–25, exports grew at a compound annual growth rate (CAGR) of 6.9%, rising sharply from USD 497.90 billion in 2020–21 to USD 828.25 billion in 2024–25. The government noted that this expansion highlights India’s diversified export base and its strengthening position in global trade.
Sharing the information in the Lok Sabha over India’s trade, Prasada said the government continues to focus on boosting exports through a mix of policy support, financial incentives, and digital infrastructure, with a special emphasis on empowering MSMEs to compete globally.
At the core of this strategy is the Foreign Trade Policy (FTP) 2023, which is built on four key pillars—trade facilitation, export promotion, state-level partnerships, and digital integration. Supporting this framework are targeted schemes aimed at improving global competitiveness.
The RoDTEP (Remission of Duties and Taxes on Exported Products) scheme remains central to ensuring that Indian exports stay competitive by neutralising embedded taxes.
India’s proactive trade diplomacy is further strengthening export growth. The country currently has 19 free trade agreements (FTAs) and has accelerated negotiations since 2021, concluding or advancing eight major deals, he told.
Key agreements include the India-EU FTA and the India-EFTA Trade and Economic Partnership Agreement (TEPA), which aims to boost foreign direct investment. Upcoming trade deals with countries such as New Zealand, Oman, and the United Kingdom are expected to expand market access and enhance services mobility.
The MoS further said the negotiations are also ongoing with partners including Israel, Canada, GCC nations, Chile, and Peru, reflecting India’s intent to build high-value trade corridors globally.
The government emphasised that India’s export strategy now follows a comprehensive, whole-of-government approach—combining financial incentives, policy reforms, digital governance, and trade diplomacy.
This integrated framework aims to build a resilient, competitive, and future-ready export ecosystem, positioning India as a trusted and technology-driven partner in global trade.
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