India’s exports of goods and services in 2024-25 have crossed USD 800 billion, according to early estimates from government sources. This includes strong service exports offsetting stagnant growth in merchandise shipments. The official trade data for the full fiscal year will be released on April 15 by the commerce ministry.
Merchandise Exports Remain Flat Amid Global Uncertainty
Despite the impressive overall figure, merchandise exports have remained flat. Between April and February, merchandise exports stood at USD 395.63 billion—almost unchanged from USD 395.38 billion in the same period last year. Exporters continue to face headwinds from global economic uncertainties that have persisted for months.
Service Exports Provide a Boost
India’s service exports have played a key role in pushing overall export numbers. During April-February 2024-25, service exports were estimated at USD 354.90 billion—up significantly from USD 311.05 billion during the same period in the previous fiscal year. This rise highlights India’s growing strength in IT, business services, and digital sectors.
Exports Expected to Grow in 2025-26
While 2024-25 saw merchandise exports plateau, officials are optimistic about the future. Sources believe India’s merchandise exports will register positive growth in 2025-26 as global conditions stabilize. Exporters and trade bodies are hopeful that supportive policies and global recovery will drive fresh demand.
Trade Numbers Reflect Mixed Performance
The trade data paints a mixed picture. Flat merchandise exports indicate external challenges, but the robust service export growth shows India’s adaptability and strength in emerging sectors. With targeted support and a favorable global environment, India aims to maintain its upward trajectory in global trade.
