India’s Economic Growth Projected at 7-7.2% for FY25
The Federation of Indian Export Organisations (FIEO) forecasts India’s merchandise exports to reach $500-510 billion in FY25, rebounding from a 3% contraction in the previous fiscal year. Services exports are estimated to contribute $390-400 billion, culminating in total exports of approximately $890-910 billion. Noteworthy sectors driving this growth include engineering, advertising services, and the expansion of global capability centers.
Key drivers of export expansion include traditional markets like the United States and Europe, alongside robust demand for technology-driven sectors such as electronics, machinery, pharmaceuticals, and medical equipment. Labor-intensive industries like apparel, footwear, and gems & jewelry are anticipated to rebound after experiencing double-digit declines in the previous fiscal year.
FIEO highlights challenges in accessing credit due to inflation, high commodity prices, and delays in export proceeds remittance. Longer voyage times and slow offtake from shelves contribute to extended credit periods. FIEO suggests a sub-target for export credit within the existing priority sector lending framework, akin to the sub-target for MSMEs, to address the declining trend in credit to exporters and facilitate export-led growth.
The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) have extended their…
England fast bowler Mark Wood announced his retirement from international cricket on September 22, 2026,…
The Indian women’s cricket team won the gold medal at the Asian Games 2026 after…
India has endorsed the consensus outcomes of the G20 Energy Abundance Ministerial, reinforcing its engagement…
The 7th edition of the National Formulary of India (NFI) 2026 was launched on September…
The Government of India has dissolved the Digital Communications Commission (DCC), the apex inter-departmental decision-making…