The paper examines the effect of foreign direct investment and manufacturing output on exports in the post-liberalisation period. After the economic reforms, India adopted an export-led growth strategy supported by various government initiatives such as Export Oriented Units, Special Economic Zones and Export Promotion Capital Goods Program. Secondary data from the World Bank and the Ministry of Commerce and Industry have been used to analyse the relationship between export, foreign direct investment and manufacturing output by using a multiple regression model. The results suggest a strong negative correlation between FDI and exports, which implies the preponderance of marketing-oriented investment. There is a positive correlation for manufacturing output, but it is not statistically significant due to barriers like high costs and limited global integration, and it needs targeted policies to improve export competitiveness.