The Federation of Indian Export Organisations (FIEO) has reported that India's goods exports are likely to see a significant decline due to the ongoing conflict in West Asia. Exports are projected to drop by 7-8% in March and 2-3% over the entire fiscal year 2026. In FY25, India recorded $825.3 billion in total exports, with $437.7 billion attributed to merchandise. The conflict has disrupted supply chains, leading to increased shipping and insurance costs, as well as rising prices for raw materials like steel and plastic. FIEO president SC Ralhan emphasized the need for the government to address high interest rates, which currently stand at about 8.25%, and to simplify trade processes. Despite these challenges, FIEO expects a 5-6% growth in overall exports for FY26, with hopes for stabilization following the West Asia crisis. Commerce and Industry Minister Piyush Goyal noted a positive trend in exports during early March, indicating potential recovery.