India’s Export Set to Grow Despite Global Uncertainties: DGFT

India’s export will continue to grow in the coming years despite global trade and tariff uncertainties, as per a senior government official. Santosh Kumar Sarangi, Director General of Foreign Trade advised the exporters to act wisely and pragmatically to navigate the current trade landscape.

He added that the current scenario offers a “golden’ opportunity for India to boost exports and enhance manufacturing competitiveness. “Our exports will continue to grow despite trade and tariff uncertainties”, he stated.

US President Donald Trump has imposed reciprocal tariffs on countries like China and plans to impose the same on India on April 2. 

Some exporters have raised concerns that the US duties on sectors like engineering and pharma will impact shipments to America, India’s largest trading partners.

Sarangi said that India’s export in goods and services will exceed USD 800 billion this year, up from USD 778 billion last year.

"While we see a temporary blip in exports (in the recent) months, in the longer run, our exporting communities have been giving us an impression that the number of order enquiries which they are receiving is fairly positive and that gives me the confidence that our exports will increase vis-a-vis our current levels," Sarangi stated.

He added that steps like, production-linked incentive schemes are supporting the domestic industry by improving ease of doing business and boosting manufacturing.

India’s goods and export declined for the fourth consecutive month by 10.85% to USD 36.91 billion in February. From April to February this fiscal year goods that are exported reached a total of USD 395.63 billion, while services exports were estimated at USD 354.90 billion.

At the event, FIEO Director General, Ajay Sahai said that despite tariff concerns, India’s export will experience significance growth.

Sahai said that, "The order books are pretty good and the removal of tariff uncertainties will further push the shipments".