The Federation of Indian Export Organisations (FIEO) has projected a 2-3% decline in merchandise exports for the current fiscal year due to global geopolitical instability. High insurance premiums and inflated freight rates have made Indian goods less competitive in the international market, particularly in the engineering and petroleum sectors. FIEO has formally requested the government to align export credit interest rates with global standards (2-4%) to help Indian businesses sustain their operations amidst these rising logistics costs.