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.
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.
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.
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.
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.
Also Read: India’s Healthcare Sector Records 62% Growth; Driven By Tech & Inclusive Hiring
Reading food labels helps you make informed, healthier choices by understanding nutrition facts & picking…
Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…
In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…
Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…
Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…
The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…