India‘s export sector has achieved a significant milestone, with total exports reaching an unprecedented $824.9 billion in the financial year 2024–25, marking a 6.01% increase from the previous year’s $778.1 billion, as reported by the Reserve Bank of India (RBI). This growth underscores the resilience and dynamism of India’s trade sector amidst global economic uncertainties.
A substantial contributor to this achievement is the services sector, which saw exports soar to a historic high of $387.5 billion in 2024–25, reflecting a 13.6% rise from $341.1 billion in the prior year. In March 2025 alone, services exports stood at $35.6 billion, an 18.6% year-on-year growth compared to $30.0 billion in March 2024.
Merchandise exports, excluding petroleum products, also contributed significantly, reaching a record $374.1 billion, a 6.0% increase from $352.9 billion in 2023–24. This marks the highest annual non-petroleum merchandise exports to date.
The surge in exports is attributed to robust global demand for Indian services, including information technology, consulting, and financial services, as well as a diversified merchandise export base. Government initiatives aimed at enhancing export competitiveness and expanding market access have further bolstered this growth.
This record-breaking performance not only strengthens India’s position in global trade but also contributes to economic growth, job creation, and foreign exchange earnings. As India continues to implement strategic trade policies and infrastructure improvements, the export sector is poised for sustained growth in the coming years.