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India Targets $1 Trillion Exports: South Asia Focus
11 Nov
Summary
- India maps South Asian trade barriers to diversify export markets.
- Exporters report issues with pesticide residues and certification delays.
- Government aims to boost exports to achieve a $1 trillion target.
To meet its $1 trillion export goal for the current fiscal year, the Indian government is systematically mapping regulatory and market-access obstacles faced by exporters in seven neighboring South Asian countries. Exporters are being consulted to identify impediments including import restrictions, licensing requirements, product standards, and payment issues. Additionally, the recognition of Indian testing laboratories in these markets is under review.
Merchandise exports to Afghanistan, Nepal, Bangladesh, Sri Lanka, Bhutan, Maldives, and Pakistan experienced a slight decrease of 1.3% to $25.7 billion in FY26. While general trade facilitation measures are underway, specific efforts are being made to increase exports of chemicals and pharmaceuticals to South Asian markets.
Exporters have cited instances like Indian turmeric and chilli exports to Sri Lanka facing rejection due to pesticide residues, and yarn exporters to Bangladesh requesting expedited certification. Despite existing regional trade agreements like Safta, exporters sometimes encounter delays in obtaining essential certificates of origin, impacting preferential tariff treatments.
