Finance Minister Nirmala Sitharaman on Tuesday praised the resilience of Indian exporters for achieving a record export turnover of $825 billion in FY25, despite weak global trade conditions. She said they had successfully ‘swum against the tide’ to post a 6% growth over the previous year.
Speaking at the Exim Bank Trade Conclave 2025, Sitharaman noted that while global exports rose by only 4%, Indian exporters managed to grow by 6.3%. She added that this marked a $466 billion increase from 2013–14 figures.
“Global trade and growth have suffered in recent years,” Sitharaman said. “According to estimates from the WTO, IMF and World Bank, global growth remains sluggish. Even so, our exporters have shown great resilience and continued to grow.”
The minister commended the shift towards high-tech products and the exploration of newer markets. She said exporters were now supplying well-engineered, high-standard products instead of just bulk commodities.
Sitharaman pointed out that, despite recession-like conditions in Europe, Indian businesses had creatively rerouted their exports.
“Our exporters are navigating difficult markets with innovation,” Sitharaman said.
Consumption was falling in several countries, including many in Europe, but India was still expanding its export reach.
The Finance Minister noted that the government was actively working on free trade agreements (FTAs) with the US and the European Union. These, she added, would change the dynamics of India’s exports in the near future.
Government measures to boost exports
The Finance Minister listed five major initiatives to support exports. These include the upgradation of transport and logistics infrastructure, targeted MSME support, and technological assistance to IITs and IIMs.
She also highlighted the launch of the International Trade Finance Services platform at GIFT City and the rollout of Production Linked Incentive (PLI) schemes. These, she said, had increased the production of electronics, especially smartphones.
Responding to global criticism over high import tariffs, Sitharaman clarified that seven tariff rates were removed in this year’s budget. She assured exporters of the government’s continued backing.
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