With 18 free trade agreements (FTAs) already in place and more expected in 2026, India should shift its focus from negotiating new deals to maximizing export benefits from existing ones, particularly in sectors such as electronics, engineering, and textiles, according to a report by the Global Trade Research Initiative (GTRI).
The report highlighted that India’s total exports stood at USD 825 billion in FY25 and are projected to rise only marginally to around USD 850 billion in FY26, reflecting a challenging global trade environment. Merchandise exports are expected to remain flat due to weak demand and rising protectionism, while services exports may cross USD 400 billion, providing the main support to overall trade performance.
“India’s priority must shift from signing deals to making FTAs deliver real export gains,” the report stated, emphasizing the need for effective utilization of existing agreements.
GTRI noted that India is entering 2026 amid one of the toughest global trade climates in recent years. Rising protectionism in advanced economies, slowing demand, and new climate-linked trade barriers are converging at a time when India is striving to scale up exports—making the challenge more about holding ground than expanding.
