India's Exports Poised to Exceed $800 Billion Amid Global Challenges
Click to start listening
Synopsis
Despite global uncertainties, India's exports are projected to surpass $800 billion this year, as stated by DGFT Santosh Kumar Sarangi. He emphasized the need for exporters to navigate the current global trade landscape wisely and highlighted the role of Sourcex India in promoting foreign trade and enhancing manufacturing competitiveness.
Key Takeaways
- India's exports expected to exceed $800 billion.
- Positive sentiment among exporters regarding order inquiries.
- Government exploring Free Trade Agreements for new market access.
- Sourcex India 2025 platform enhances global trade relations.
- Production-linked incentive schemes boosting domestic manufacturing.
New Delhi, March 27 (NationPress) Despite global uncertainties, India's exports are on track to rise significantly, according to the Director General of Foreign Trade (DGFT), Santosh Kumar Sarangi. He advised exporters to approach the current global trade landscape with pragmatism and intelligence.
As per his insights, the prevailing geo-political climate offers a remarkable opportunity for India to enhance exports and strengthen manufacturing competitiveness.
During an event, Sarangi projected that this year, India's total exports in goods and services will exceed $800 billion, an increase from $778 billion last year.
“While we have observed a temporary dip in exports recently, our exporting communities convey a positive sentiment regarding the number of order inquiries, which boosts my confidence that our export levels will rise,” Sarangi mentioned at the ‘Sourcex India 2025’ event.
Initiatives such as production-linked incentive (PLI) schemes are enhancing the ease of doing business and supporting domestic manufacturing, he added.
Sarangi highlighted that ‘Sourcex India’ is pivotal in creating an ecosystem that fosters India’s foreign trade, particularly exports.
Moreover, he indicated that the government is actively seeking new market access via Free Trade Agreements (FTAs) with complementary economies to further bolster exports.
Dr. Ajay Sahai, Director General and CEO of FIEO, emphasized that Sourcex India will serve as a critical platform for promoting Indian brands, nurturing trade relationships, and unlocking new opportunities for Indian businesses in the global arena.
Ashwani Kumar, Officiating President of FIEO, underscored the significance of direct engagement between Indian exporters and international buyers, aiming to broaden India’s trade presence worldwide.
Featuring participation from over 150 global buyers across more than 45 countries, including regions like Africa, CIS, EU, LAC, NAFTA, NEA, Oceania, SA, SEA, and WANA, ‘Sourcex India 2025’ stands as a crucial platform for Indian exporters looking to engage with international markets.
