India Poised For Export Growth Despite Global Trade Uncertainties: DGFT

ENA Sectors 2025-03-27 16:02:11 New Delhi, Mar 27 (KNN) In a confident assessment of India's export potential, senior government officials have expressed optimism about the country's economic trajectory, despite ongoing global trade challenges. At the Sourcex India 2025 show organised by the Federation of Indian Export Organisations (FIEO), Director General of Foreign Trade Santosh Kumar Sarangi highlighted the nation's strategic opportunities in the international marketplace. Sarangi emphasised that India's exports are positioned for growth, characterising the current global trade landscape as a golden opportunity to enhance manufacturing competitiveness. He projected that the country's exports in goods and services will surpass USD 800 billion this year, compared to USD 778 billion in the previous period. The official acknowledged recent fluctuations in export performance, noting a 10.85 percent dip to USD 36.91 billion in February. However, he remains sanguine about future prospects, pointing to encouraging order enquiries and positive indicators from the exporting community. The government's production-linked incentive schemes and efforts to improve ease of doing business are expected to bolster domestic manufacturing and export potential. Geopolitical trade tensions, including potential reciprocal tariffs from the United States, have raised concerns among exporters, particularly in engineering and pharmaceutical sectors. Despite these challenges, FIEO Director General Ajay Sahai echoed Sarangi's optimism, suggesting that the removal of tariff uncertainties could further stimulate export growth. The goods and services export landscape remains dynamic, with April-February fiscal period exports in goods reaching USD 395.63 billion and services estimated at USD 354.90 billion. Government officials advocate for a pragmatic approach, urging exporters to navigate the complex global trade environment with strategic wisdom and adaptability. As India continues to position itself in the global market, the government's confident outlook suggests a resilient export sector prepared to overcome current economic uncertainties and capitalise on emerging opportunities. (KNN Bureau) 41549 https://knnindia.co.in/news/newsdetails/sectors/india-poised-for-export-growth-despite-global-trade-uncertainties-dgft 2025-03-27 16:02:11 knnindia.co.in India Poised For Export Growth Despite Global Trade Uncertainties: DGFT