Total exports jump to $825 bn in FY25 as services shipments rise over 13%

India's exports of goods and services hit an all-time high of $825 billion in 2024-25, driven by a record surge in the shipments of services that reached $386.5 billion in the last fiscal despite global trade headwinds, according to the commerce ministry data.

Following the release of March services exports data by the RBI, the country's overall exports for 2024-25 have been revised to $824.9 billion from the earlier estimate of $820.93 billion, announced on April 15. Total exports were worth $778.13 billion in 2023-24.

The data showed that services exports jumped to a record high of $387.5 billion in 2024-25, registering a robust 13.6 per cent growth over $341.1 billion in 2023-24.

 

In March, services shipments rose by 18.6 per cent to $35.6 billion compared to $30 billion in March 2024. 

The main sectors which contributed to the growth in exports included telecommunication, computer and information services; transport; travel; and financial services.

"According to the latest release, 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," a ministry release stated.

Commenting on the data, Federation of Indian Export Organisations (FIEO) SC Ralhan the data shows the resilience of exporters..

However, he said that "as of today, 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 said that interest rates are high in the country and to become competitive in the global markets, "we need a minimum 5 per cent subvention".