New Delhi, March 24 (NationPress) India's trade landscape continues to demonstrate remarkable strength and durability, with exports showing a consistent upward trend not only in the current financial year but also over the extended period from FY 2021 to FY 2025, as reported to Parliament on Tuesday.

In spite of ongoing supply chain challenges stemming from geopolitical tensions and fluctuating commodity prices, India's exports have managed to grow broadly.

From April to January in FY 2025–26, the total exports of goods and services saw an impressive increase of 5.26%, reaching $714.73 billion compared to $679.02 billion during the same timeframe last year, as shared by the Minister of State for Commerce, Jitin Prasada, in the Lok Sabha.

Between 2021-22 and 2024-25, the exports achieved a compound annual growth rate of 6.9%, with values sharply rising from $497.90 billion in 2020-21 to $828.25 billion in 2024-25. This consistent growth highlights India's capacity to maintain a diversified and robust export sector, establishing the nation as a formidable player in international trade even amidst challenging external factors, the minister noted.

The government is actively working to enhance exports and expand India's presence on the global stage by integrating traditional strengths with emerging technology-driven sectors. A key aspect of this vision is the establishment of a supportive ecosystem that enables exporters, especially Micro, Small, and Medium Enterprises (MSMEs), to compete effectively in global markets. This initiative is bolstered by a dynamic policy framework, substantial financial incentives, an expanding digital infrastructure, improved trade facilitation, and a concerted effort to gain deeper market access through innovative trade agreements.

The Foreign Trade Policy (FTP) 2023, crafted as a flexible and adaptive structure to respond to global changes, has emerged as a critical driver of India’s export growth.

The RoDTEP scheme plays a pivotal role by neutralizing embedded taxes on exports, allowing Indian products to maintain competitiveness on a global scale. The newly introduced Export Promotion Mission (EPM) 2 further strengthens this initiative, with the government allocating a budget of Rs. 25,060 crores for FY 2025–26 to FY 2030–31.

Moreover, the government has recently implemented a time-sensitive “RELIEF” Scheme aimed at mitigating heightened export risks arising from geopolitical disruptions in the Gulf and West Asia maritime corridor, as emphasized by the minister.

Prasada also pointed out that India's proactive trade diplomacy complements policy measures. With a total of 19 Free Trade Agreements (FTAs) and a renewed focus since 2021, India has either concluded or advanced eight significant agreements with key partners.

The India-EU FTA, a groundbreaking agreement that grants access to nearly the entire EU tariff universe, signifies a crucial step towards deeper integration of India into global value chains. The India-EFTA Trade and Economic Partnership Agreement (TEPA) marks India's first FTA with a specific commitment to boost Foreign Direct Investment (FDI) from its investors. Trade agreements with New Zealand, Oman, and the UK aim to broaden market access, enhance services mobility, secure long-term investments, and establish predictable regulatory environments for businesses, the minister added.