India’s total exports touched a historic high of US$824.9 billion in the financial year 2024–25, marking a 6.01% increase over the previous year’s figure of US$778.1 billion, according to the Reserve Bank of India’s latest data. This performance sets a new milestone in the country’s trade trajectory, reflecting a broad-based expansion across goods and services.
Services Exports Lead the Surge
Services exports remained a major growth driver, reaching an all-time high of US$387.5 billion during 2024–25. This represents a 13.6% jump from US$341.1 billion in 2023–24.
In March 2025 alone, services exports stood at US$35.6 billion, reflecting a strong 18.6% year-on-year growth compared to March 2024.
The steady expansion in services highlights India’s growing strength in knowledge-based sectors such as IT, consulting, finance, and engineering services, as global demand for digital and professional expertise continues to rise.
Non-Petroleum Merchandise Exports Reach New Highs
Meanwhile, non-petroleum merchandise exports rose to US$374.1 billion, recording a 6% growth from US$352.9 billion in the previous financial year.
This marks the highest-ever annual level for non-petroleum goods exports, underlining India’s improved competitiveness in sectors ranging from electronics and machinery to textiles and chemicals.
The rise in non-petroleum exports signals a growing diversification of India’s trade portfolio and greater resilience amid changing global market dynamics.
Also read: India’s Polished Diamond Exports at 20-Year Low
Export Momentum Sets Strong Foundation for Future Growth
The record-breaking export numbers for 2024–25 underscore India’s increasing global integration and competitiveness. As services and goods exports continue to expand, India is well-positioned to further strengthen its role in global trade, aligning with broader national objectives such as achieving a $5 trillion economy and expanding its share in global value chains.
The latest data also highlights the opportunities ahead for businesses to capitalize on government initiatives like the Production-Linked Incentive (PLI) schemes, logistics infrastructure improvements, and new trade agreements aimed at boosting export across sectors.
India’s strong export momentum sets a positive foundation for the coming decade, reinforcing the country’s strategic importance in global commerce.
