India’s textile and apparel exports are set to grow to $95-110 billion by the next six years from $44.40 billion in FY’22, as per the latest Bain & Co report. As per the report, India’s total merchandise exports are expected to reach $1 trillion by FY ’28. Manufacturing exports are set to grow at 15 per cent CAGR to reach $418 billion in FY’22. 

Exports from other sectors such as chemicals ($110-130 billion), electrical and electronics ($120-145 billion), automotive ($45-55 billion), pharmaceuticals ($45-50 billion) and industrial machinery ($70-75 billion) too are estimated to grow significantly.

Rising capacity expansion, government support, increased mergers and acquisitions and PE/VC-led investment, are set to boost the country’s sustained economic growth in the years to come, says Deepak Jain, Partner, Bain and Company and Co-author,

Growth of India’s $1 trillion manufacturing exports will be driven by priority sectors  such as chemicals, auto, electronics, pharma, textiles and industrial machinery  that will contribute 50-60 per cent share of manufacturing exports, adds Sushil Pasricha, Expert Partner, Bain & Company and Co-author.