India has reached a landmark in foreign trade, with total exports of goods and services hitting a record $820 billion in the financial year 2024–25, according to provisional data from the Commerce Ministry. This marks a 6% increase over the previous year’s total of $778 billion, achieved despite widespread global uncertainties.
The figures were shared at a high-level review meeting chaired by Commerce and Industry Minister Piyush Goyal, who congratulated Indian exporters on the achievement and emphasized the country’s rising stature in global commerce.
Exporters Praised for Enduring Tough Global Conditions
Minister Goyal commended the tenacity of Indian exporters, noting that they succeeded even as global trade faced several shocks—including the Red Sea shipping crisis, the Israel-Hamas conflict, the prolonged Russia-Ukraine war, and sluggish growth in major global economies.
“This performance highlights India’s emergence as a reliable and resilient trading partner,” he said. Goyal assured the industry that the government will continue to foster a supportive trade environment to help exporters remain competitive on the global stage.
Job Creation and Global Supply Chain Integration on the Horizon
According to Goyal, the export growth enhances India’s credibility in international markets, which could attract greater foreign investment in manufacturing. This, in turn, is expected to create jobs and deepen India’s integration into the global supply chain.
Industry Voices Call for Proactive Support
During the meeting, representatives from Export Promotion Councils and industry associations raised concerns about emerging global trade barriers, including the imposition of high tariffs by the United States. They urged the government to take timely policy measures to cushion the export sector against such disruptions.
Officials from the Commerce Ministry and related departments assured participants that India is well-prepared to sustain its export momentum, despite challenges.
Detailed Data Release Expected Soon
As per government estimates, merchandise exports from April to February 2024–25 stood at $395.63 billion, marginally higher than $395.38 billion recorded during the same period last year. Meanwhile, service exports for the same period were estimated at $354.90 billion, significantly up from $311.05 billion in 2023–24.
The final figures for the full fiscal year 2024–25 will be officially released by the Commerce Ministry on April 15.
Despite four consecutive months of export contraction up to February due to global slowdowns, India has still managed to log its highest-ever annual export numbers, reinforcing its reputation as a resilient export powerhouse amid uncertainty.
