India’s Exports Reach Historic High of $825 Billion in FY2024-25

India’s exports of goods and services reached an unprecedented $824.9 billion in the fiscal year 2024-25, according to data released by the Commerce Ministry. 

This milestone was primarily driven by a significant rise in services exports, even as global trade faced challenges. The revised figures follow the Reserve Bank of India’s (RBI) release of the March 2025 services exports data.

Record-Breaking Growth in Services Sector

The data reveals that India’s services exports soared to a record $387.5 billion in 2024-25 showing a robust 13.6 per cent increase from $341.1 billion in the previous fiscal year. In March 2025 alone, services exports rose sharply by 18.6 per cent, reaching $35.6 billion compared to $30 billion in March 2024.

Sectors contributing to this exceptional growth included telecommunication, computer and information services; transport; travel; and financial services. This surge helped lift the country’s overall export figures from $778.13 billion in 2023-24 to $824.9 billion in 2024-25, marking a 6.01 per cent year-on-year increase.

Mixed Outlook Despite Strong Performance

Commenting on the export performance, Federation of Indian Export Organisations (FIEO) President SC Ralhan said, “The data shows the resilience of exporters.” However, he also highlighted some concerns regarding future prospects. “As of today, the inflow of orders is not good from the US and Europe. The US importers are waiting for the trade agreement and this can affect our exports,” he said.

Ralhan further noted that interest rates in the country remain high, impacting competitiveness in global markets. He added, “We need a minimum 5 per cent subvention.”

Read More: India’s Diamond, Gold and Silver Jewellery Exports Decline in FY25

Conclusion

India’s exports have touched a historic milestone in 2024-25, with the services sector playing a key role in driving growth. While the figures reflect resilience and robust performance, challenges remain in sustaining this momentum amid uncertain global trade dynamics.

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