Despite geo-political uncertainties, India’s exports set to cross $800 billion
Director General of Foreign Trade (DGFT), Santosh Kumar Sarangi said that the current geo-political scenario presents a golden opportunity for India to propel exports and increase manufacturing competitiveness
- NEW DELHI — Despite global uncertainties, India’s exports are set to surge,
said Director General of Foreign Trade (DGFT), Santosh Kumar Sarangi, adding
that exporters should tread the path pragmatically and wisely to navigate the
current global trade contours.
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- According to him, the current geo-political scenario
presents a golden opportunity for India to propel exports and increase
manufacturing competitiveness.
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- Sarangi said at an event that in the current year, India's
exports in goods and services will cross $800 billion this year, from $778
billion last year.
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- "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 said at the ‘Sourcex India 2025’
event.
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- Initiatives like production-linked incentive (PLI) schemes
are promoting ease of doing business and boosting domestic manufacturing, he
added.
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- Sarangi emphasised that ‘Sourcex India’ plays a crucial role
in fostering an ecosystem for promoting India’s foreign trade, particularly
exports.
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- Additionally, Sarangi mentioned that the government is
exploring new market access opportunities through Free Trade Agreements (FTAs)
with complementary economies to further boost exports.
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- Dr Ajay Sahai, Director General and CEO of FIEO, stressed
that Sourcex India would be a vital platform for promoting exports of Indian
brands, fostering trade relationships and unlocking new opportunities for
Indian businesses in global markets.
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- Ashwani Kumar, Officiating President of FIEO, emphasised the
importance of direct engagement between Indian exporters and international
buyers, which aims to expand India’s trade footprint worldwide.
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- With participation from over 150 global buyers across 45+
countries, including regions such as Africa, CIS, EU, LAC, NAFTA, NEA, Oceania,
SA, SEA, and WANA, ‘Sourcex India 2025’ is an essential platform for Indian
exporters to engage with international markets.
