India's Export Diversification Strategy
India's foreign trade policy aims to diversify export markets beyond traditional dependence on the US and the Middle East. The emphasis on the EU — a USD 15 trillion economy with 450 million consumers — represents a strategic shift toward developed markets with high purchasing power and quality standards.
- India's total merchandise exports (2024-25): approximately USD 430-440 billion
- Foreign Trade Policy 2023 (FTP 2023): replaced the previous 5-year cycle with a continuous, responsive framework; focuses on promoting emerging sectors and diversifying markets
- PLI (Production Linked Incentive) Scheme: covers 14 sectors including automobiles and auto components, food processing, textiles — directly relevant to the export surge to the EU
- Automotive sector PLI: allocated INR 25,938 crore over 5 years; targets champion OEMs and component manufacturers
- Districts as Export Hubs (DEH) initiative under FTP 2023 aims to decentralise export promotion
- APEDA (Agricultural and Processed Food Products Export Development Authority) under the Ministry of Commerce promotes agricultural exports
● Tracked since February 03, 2026 · last seen March 09, 2026 · updates as the daily brief publishes
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