Export Boom! India’s $820 Billion Triumph Signals Global Trade Leadership

New Delhi, April 9, 2025 – India has broken a historic record by recording its all-time highest ever goods and services exports of more than $820 billion during the last fiscal year 2024-25. This is a strong growth of nearly 6% from the previous fiscal year, which reflects the resilience and strength of the Indian economy amidst global trade challenges.

 

Union Minister of Commerce and Industry Piyush Goyal greeted the accomplishment in a high-level interaction with Export Promotion Councils and industry captains. He noted that such record performance had been achieved in spite of numerous global headwinds such as geopolitical tensions, tariff hikes by big trading partners such as the United States, and a poor global economic climate.

 

Decomposing the figures, exports of merchandise were at $395.63 billion for April-February 2024-25, while exports of services increased to $354.90 billion, which reflected robust momentum in industries such as IT, financial services, and telecommunications. The government credited this achievement to policy reforms to increase manufacturing and exports, including the rollout of production-linked incentive schemes and targeted assistance to priority sectors.

 

Minister Goyal noted that India's image as a reliable international trading partner has made the country confident to attract foreign firms. He also promised exporters that the government will continue to support them as they navigate changing trade patterns and disruptions from new U.S. tariffs.

 

This success reiterates India's commitment to become an economic giant of the world and open new horizons for industry and jobs across the nation.

 

Source: Business Today