India's merchandise exports to recent FTA partners could reach USD 1 trillion by 2035: ASSOCHAM
New Delhi, July 30
India's merchandise exports to countries covered under its recent free trade agreements could reach USD 1 trillion by 2035, according to a new report by industry body ASSOCHAM, which said the agreements have opened up significant opportunities for Indian exporters in some of the world's largest markets.
The report, 'India's Recent FTAs: Trillion-Dollar Export Opportunities', estimates that merchandise exports to nine recent FTA partner countries could rise from USD 233 billion in 2025 to nearly USD 511 billion by 2030, before reaching around USD 1 trillion by 2035. The report attributes the growth to increased market access, stronger manufacturing capabilities and better utilisation of trade agreements.
According to the report, the nine FTA partner countries together import goods worth more than USD 13 trillion annually, while India's exports account for less than 2 per cent of that import demand, highlighting the scope for expanding India's presence in these markets. It also noted that these countries account for about 39 per cent of India's merchandise trade.
Launching the report, ASSOCHAM Secretary General Saurabh Sanyal said, "India's recent Free Trade Agreements have the potential to become a key driver of export growth. Sectors such as engineering goods, electronics, pharmaceuticals, textiles, gems and jewellery, automotive products and processed foods are well placed to benefit. Higher exports can support manufacturing, investment, employment and foreign exchange earnings, strengthening India's long-term growth ambitions."
The report also pointed out that India's top 100 export products currently account for exports of about USD 324 billion to these markets, compared with their combined imports of around USD 6.4 trillion, indicating significant untapped potential.
The report also called for continued improvements in logistics, trade facilitation and support for exporters, particularly micro, small and medium enterprises (MSMEs), to maximise gains from the trade agreements.
The ASSOCHAM projection comes as the Centre has set ambitious export goals of its own. The government has targeted USD 2 trillion in overall exports by 2030-31, comprising USD 1 trillion each in merchandise and services exports. In contrast, ASSOCHAM's latest report estimates that merchandise exports to India's nine recent FTA partner countries alone could approach USD 1 trillion by 2035, underscoring the scale of opportunity these trade agreements could create.
— ANI
Reader Comments
The potential is huge but I wish the report also looked at the other side of the coin—cheaper imports could hurt some domestic industries, especially in electronics and textiles. We need a balanced approach to protect small players while chasing these big export numbers. Otherwise, it's always the middleman who benefits the most.
That's an impressive projection. India has been getting more assertive with trade deals lately. The 2% share of partner imports is really low, so there's a lot of room for growth—especially if quality and pricing stay competitive. Watch out for the pharma and engineering sectors, they'll likely lead this charge.
As a small exporter myself, I'm cautiously optimistic. FTAs help with tariffs, but ground-level issues like red tape, port delays, and lack of quality certification labs still choke us. ASSOCHAM is right to highlight MSME support—without that, these trillion-dollar dreams will remain just that, dreams. We need more than just reports; we need action.
Interesting that the report focuses on merchandise exports only, while services are booming separately. These FTAs should also open doors for Indian IT and consulting firms. Still, $233B to $1T in a decade is a big leap—hope it's backed by real reforms and not just optimistic modeling. Better trade facilitation is the key. 🤞
The $13 trillion import market line is a real eye-opener—we're barely scratching the surface! If we can leverage the FTAs well, especially in electronics and processed foods, this could create lakhs of jobs. But the government
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