India achieves record $825 billion in exports for 2024-25

India's export performance achieved new heights in the fiscal year 2024-25, with total exports of goods and services soaring to a record $825 billion. This feat was fueled by an unprecedented surge in service exports, which climbed to $386.5 billion, despite challenging global trade conditions, the ministry of commerce revealed.
India’s total exports for the year 2024-25 were updated to $824.9 billion, slightly higher than the earlier estimate of $820.93 billion which was announced on April 15. For comparison, India’s total exports in 2023-24 were $778.13 billion.
The services sector played a major role in this growth, with exports reaching a record $387.5 billion in 2024-25, reflecting a robust 13.6% rise from $341.1 billion in the previous year. March alone saw a remarkable 18.6% increase, with service shipments rising to $35.6 billion compared to $30 billion in the same month of 2024.
The growth was driven by strong performances in key sectors including telecommunications, computer and information services, transport, travel, and financial services.
A statement from the ministry of commerce noted, "India's total exports touched a historic $824.9 billion in 2024-25, growing by 6.01 per cent over the previous year's $778.1 billion."
SC Ralhan, president of the federation of Indian export organisations (FIEO), commended the resilience of Indian exporters but raised concerns about the current market conditions.
"The inflow of orders is not goods from the US and Europe. The US importers are waiting for the trade agreement and this can affect our exports, he said adding the government should immediately announce an interest subvention scheme for exporters," Ralhan further added.
He also said that the interest rates in the country are too high and need a minimum 5per cent subvention, to become competitive in global markets.