India’s exports seen growing in FY26 despite US tariffs

While the US tariffs may shave off as much as $37 billion from merchandise exports, India’s overall shipments – goods and services combined– might still marginally exceed last year’s level in 2025-26, analysts reckon. However, the pace of growth will likely slow. Mr Ajay Srivastava, Founder, Global Trade Research Initiative, said that combining goods and services, total exports are set to increase from $824.9 billion in FY25 to $839.9 billion in FY26—a 1.8% overall gain despite heavy US headwinds. Goods exports (excluding the US) are projected to grow 5%, rising from $350.9 billion in FY2025 to $368.5 billion in FY2026. More significantly, services exports—India’s standout strength—are expected to jump 10%, from $387.5 billion to $426.2 billion, led by IT, business services, fintech and healthcare, as per a report.

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