Consumer manufacturers’ FY26 export earnings top ₹1.08 lakh crore, outpace import outgo

Twenty companies—including ITC, Hyundai, LG and Radico Khaitan—lifted export forex earnings 29% to more than ₹1,08,269 crore in FY26, against ₹1,04,361 crore of import outgo. Firms are pairing export growth with localisation amid rupee weakness, tariffs and input-cost pressure.

— Source publishedTue, 25 Aug, 2026, 09:03 IST·First seen Tue, 25 Aug, 2026, 10:32 IST·Source ET Retail

What happened

Twenty Indian consumer manufacturers increased export forex earnings 29% in FY26 to more than ₹1.08 lakh crore, exceeding import outgo. Companies including ITC,

Key facts

  • Combined export forex earnings exceeded ₹1,08,269 crore in FY26
  • Combined import forex outgo was ₹1,04,361 crore, up 17%
  • Combined export forex earnings grew 29% in FY26
  • Marico, Godrej Consumer Products, Hyundai, Hero MotoCorp and Bajaj Auto raised export contribution by 1-5 percentage points
  • Radico Khaitan export forex earnings rose 25% to ₹327 crore
  • Radico exports to more than 100 countries and exports represent 5-6% of volume
  • LG Electronics India expects localisation to rise 1-2 percentage points annually

Why this matters

Companies should target partnerships, acquisitions and supplier investments that expand export-market distribution while reducing import dependence in tariff-exposed, high-cost input categories.

What to watch

  • Rupee movement versus the US dollar and companies' disclosed hedging gains or losses.
  • Monthly export order growth, especially in appliances, automobiles, packaged goods and spirits.
  • Import-cost inflation for electronic components, crude-linked packaging, edible oils and specialty chemicals.
  • Tariff announcements and trade-policy changes in key destination markets.
  • Management commentary on domestic sourcing ratios, export margins and overseas capacity additions.
  • Freight rates, port congestion and shipping-route disruptions.
  • Increase localisation targets for high-import components, packaging inputs and sub-assemblies.
  • Build export-dedicated capacity and regional product variants for faster-growing overseas markets.
  • Use currency hedging selectively while preserving upside from rupee depreciation.
  • Diversify export destinations and supplier bases to reduce tariff and single-market exposure.
  • Seek government incentives, trade-agreement benefits and faster customs/logistics pathways for export-heavy categories.