India’s Total Exports Grow by 6.01% to Reach Record $824.9 Billion in 2024–25: A Comprehensive Overview

The Rise of India’s Exports India’s total exports have surpassed the world record, reaching a historic high of US$824.9 billion in the financial year ending in March 2025. This growth is impressive and reflects the resilience and economic strength of the country.

Total Exports: A New Record

The Reserve Bank of India (RBI) has shared its latest data on services trade for March 2025, which highlights the significant contribution to India’s total exports. For this financial year, services exports reached US$387.5 billion, an increase of 13.6% compared to the previous year. This growth underscores the importance of such industries in driving overall export volumes.

Services Trade Dominator

One of the key drivers of this growth is India’s dominance in services trade. In March 2025, Indian services exports stood at US$35.6 billion, representing a year-on-year increase of 18.6% compared to the previous year. This achievement highlights the strong demand for services across various sectors, including hospitality, healthcare, and IT infrastructure.

Merchandise Exports: A New Record

Indie’s merchandise exports, particularly excluding petroleum products, continued to set new records. In March 2025, these exports reached US$374.1 billion, marking a 6.0% increase from the previous year. This growth surpasses any previous annual non-petroleum merchandise exports, showcasing India’s strength in producing goods for both domestic and international markets.

Non-Petroleum Merchandise: A Breakthrough

The improvement in non-petroleum merchandise exports is particularly notable. In March 2025, Indian non-petroleum merchandise exports reached US$352.9 billion, an increase of 6.0% compared to the previous year. This growth not only strengthens India’s domestic economy but also enhances its appeal globally for its diverse product range.

Trade Trends: A Moving Target

While India’s export volumes are robust, there is no certainty about future trends. The Reserve Bank of India (RBI) has emphasized the importance of focusing on key sectors such as agriculture and industry to maintain a balanced growth strategy. This approach ensures sustained productivity growth while addressing global trade challenges.

Conclusion

India’s total exports have achieved record-breaking volumes in 2024–25, driven by strong performance in services trade and robust growth in non-petroleum merchandise. These achievements reflect India’s economic resilience and are essential for maintaining its position as a major exporter of both goods and services globally.