India's exports likely to cross USD 1 trillion in FY27, April-October shipments rise 16%: ASSOCHAM Chief Economist

New Delhi [India], November 13 (ANI): India's exports are expected to cross the USD 1 trillion mark for the first time in the current financial year 2026-27, driven by strong growth of over 16 per cent during April-October and sustained demand from key global markets, according to .SP Sharma, Chief Economist at ASSOCHAM
Speaking to ANI, Sharma said India's exports reached approximately USD 569 billion during April-October, reflecting strong momentum towards achieving the annual target.
"India's exports are growing rapidly, and we expect to achieve our USD 1 trillion export target this financial year. Our export performance from April to October has been very strong. We exported approximately USD 569 billion during this period, registering robust growth of over 16 per cent," he said.
Sharma expressed confidence that the target would be achieved if the current momentum continues, noting that exports generally accelerate towards the end of the financial year, particularly in February and March.
Highlighting strong demand from major trading partners, he said India's exports to the US, China, Japan, Italy and other European countries were performing well.
"In the last financial year, 2025-26, India recorded exports worth USD 863 billion, an all-time high. Our target for the current financial year, 2026-27, is USD 1 trillion," Sharma said.
He added that India's export growth trajectory would remain intact, supported by Free Trade Agreements (FTAs) signed with countries including Mauritius, New Zealand, Oman, the UAE, Australia and the UK.
"We expect these agreements to deliver significant benefits in the coming years," he said.
Sharma further emphasised that sustained export growth would be a key pillar of India's Viksit Bharat vision, supported by improvements in the ease of doing business and government reforms.
Referring to the West Asia crisis, he said the government had announced significant support measures for MSME exporters, adding that continued policy initiatives would help maintain India's export growth momentum. (ANI)