Strong Growth in India's Exports at the Start of FY27; Government Accelerates Initiatives for FTA Expansion
The beginning of the 2026-27 fiscal year (FY27) has been positive for India's export sector. According to a senior government official, the country's exports recorded double-digit growth during April and May 2026. The Ministry of Commerce is set to release trade figures for the month of May on June 15, a release expected to provide detailed confirmation of this trend.
In April 2026, India's exports surged by 13.78 percent to reach $43.56 billion—the highest monthly figure recorded in the last four years. The recovery in petroleum product exports and elevated international crude oil prices played a significant role in driving this growth. However, imports also witnessed a sharp increase during the same period, causing the trade deficit to widen to $28.38 billion—the highest level seen in the last three months.
The government is actively pursuing Free Trade Agreements (FTAs) as a key strategy to boost exports and strengthen India's market share in the global arena. In line with this objective, the Ministry of Commerce is currently working on a plan to recruit approximately 1,000 personnel to raise awareness regarding FTAs across the country. Candidates proficient in various Indian languages will be required for these positions, and the formalities regarding the recruitment process are currently underway.
Currently, India has operational FTAs with several countries and blocs, including the United Arab Emirates (UAE), Oman, Australia, the European Free Trade Association (EFTA), and Mauritius. Furthermore, agreements with the United Kingdom (UK), New Zealand, and the European Union (EU) are in their final stages of negotiation.
According to Commerce and Industry Minister Piyush Goyal, India has concluded nine Free Trade Agreements over the past three and a half years, covering approximately 38 developed nations. He asserts that these agreements are facilitating improved access for Indian goods and services in global markets and collectively impact a significant portion of global trade. The government aims to achieve exports of $1 trillion in the current year and $2 trillion over the next five years. In pursuit of this objective, trade negotiations are being accelerated with Israel, Canada, the Gulf Cooperation Council (GCC), the Southern African Customs Union (SACU), Russia, Central Asian nations, and other partners.
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