India’s overall export data for the April-February 2025-26 period shows a marginal growth of 1.84%, with total merchandise exports reaching $402.93 billion. However, a slight decline in the February 2026 figures suggests that the cumulative impact of global tensions is finally starting to slow down the national trade momentum. Economic experts, including former Professor Biswajit Dhar, suggest that India’s trade future now hinges on the next phase of US maritime policies and the stability of the Strait of Hormuz. The report concludes with an urgent call for the government to provide targeted relief, such as lowering terminal charges and increasing credit availability, to help small and medium enterprises (SMEs) survive this period of high operational costs and global uncertainty.