India's export outlook remains challenging in FY27 amid moderating global demand and elevated electronics imports, but the worst phase appears to be behind as a weaker rupee, resilient services exports and strong remittance inflows are likely to cushion external sector pressures, according to a report by Elara Securities. The report noted that softer crude oil prices and easing freight costs in the coming months could help normalise India's import bill, providing some relief to the country's trade balance.