Chief Economic Adviser V. Anantha Nageswaran points to trade momentum, with exports reaching $480 billion in the first six months
Indian exports are set to cross $1 trillion in the 2026-27 financial year, government Chief Economic Adviser V Anantha Nageswaran has said.
The South Asian nation’s cumulative exports, including goods and services, totaled $476.20 billion in the April-September period, government data showed.
“We are on track to exceed or even achieve $1 trillion exports this year,” he said, pointing to the 13.84% growth recorded in the first half of the fiscal, from the year-ago period.
India’s total exports in the financial year ended March was 863.1 billion, with merchandize exports reaching 441.8 billion, and services exports at $421.3 billion.
To compare, China’s goods exports alone stood at $3.77 trillion in 2025, while overall US exports, including services, came in at $3.43 trillion.
Achieving the ambitious export targets would, however, require New Delhi to strengthen its manufacturing amid geopolitical tensions and supply-chain disruptions.
Sectors that received robust federal government backing should help deliver strong export numbers and provide the country with the ability to compete on import prices, the government’s chief economist said.
India is on course to exceed $1 trillion in exports in 2026-27, according to Chief Economic Advisor V Anantha Nageswaran. He described 2025-26 as a critical economic inflection point for India — comparable to 1991 in significance, not in crisis terms — after years of global supply-side shocks from the pandemic, the Ukrainian conflict, and tensions in the Gulf. t.co/hpFV5iIYKE
— Sputnik India (@Sputnik_India) October 29, 2026“We have to insist on quid pro quo from the industry in terms of export competitiveness, and/or import parity,” he said.
Nageswaran also advocated setting up reservoirs of essential commodities as a way to deal with supply chain issues.
Read more India to buck global slowdown and grow 7% for two years – IMFIndia’s Niti Aayog pointed out in its executive summary for the Jan-March quarter that challenging global trade conditions, along with continued uncertainty surrounding trade policies, investment flows, and supply chains were weighing on economic activity.
The South Asian nation clocked real GDP growth of 7.8% in the first quarter of 2026-27, making it one of the fastest-growing major economies in the world.
The US remained India’s largest export destination in the first-half of the fiscal year, with exports of $50.81 billion, up from $45.82 billion a year ago despite the tariff uncertainties and continuing negotiations over a trade deal.
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