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India’s combined goods and services exports surged past USD 820 billion in 2024-25, marking an increase of nearly 6% over the previous fiscal year, the Ministry of Commerce and Industry announced on Wednesday.
India recorded a significant rise in exports, increasing from USD 778 billion in 2023-24 to over USD 820 billion in 2024-25, despite facing multiple global economic challenges.
Commerce Minister Engages With Exporters Amid Tariff Concerns
During a high-level meeting with export promotion councils and industry bodies, Commerce and Industry Minister Piyush Goyal acknowledged the achievement and praised exporters for their resilience.
The meeting also addressed concerns related to increased tariffs by the United States and explored strategies to navigate the evolving global trade scenario.
Goyal assured exporters that the government will continue to create a conducive environment to help them adapt to these changes.
Breakdown Of Exports Performance
According to provisional data, India’s merchandise exports stood at USD 395.63 billion between April and February of FY 2024-25, nearly flat compared to USD 395.38 billion during the same period in the previous year.
Meanwhile, services exports grew significantly, rising to USD 354.90 billion, up from USD 311.05 billion in April- February 2023-24.
The full export and import data for FY 2024-25 will be officially released on April 15.
Challenges In Global Trade Landscape
Despite headwinds such as the Red Sea crisis, the Israel- Hamas conflict, the ongoing Russia- Ukraine war, and sluggish growth in developed economies, India’s exports demonstrated positive momentum.
However, merchandise exports recorded negative growth for the fourth consecutive month in February, reflecting the continued strain on global trade.
Exports Councils Call For Government Support
Representatives from various export promotion councils shared their perspectives during the meeting and urged the government to adopt proactive measures to support exporters.
They emphasized the need for policy stability and financial incentives to sustain export growth in the face of mounting international pressures.
The government reiterated its commitment to facilitating trade and ensuring that Indian exporters remain competitive in global markets.
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