New Delhi, May 2: India’s exports of goods and services rose to a record high of $824.9 billion in the financial year 2024-25, supported by robust growth in the country’s services sector, the Commerce Ministry said on Thursday.
Revised data released following the Reserve Bank of India’s March figures showed that overall exports grew 6.01% from $778.1 billion in 2023-24. Services exports accounted for nearly half the total, reaching an all-time high of $387.5 billion, a 13.6% increase over the previous year.
The surge was led by sectors such as telecommunications, computer and information services, transport, travel and financial services. Services shipments in March alone jumped 18.6% year-on-year to $35.6 billion.
“The data shows the resilience of Indian exporters despite global trade headwinds,” said Federation of Indian Export Organisations (FIEO) President SC Ralhan. However, Ralhan expressed concern about weakening order flows from key markets such as the United States and Europe. He attributed the slowdown to uncertainty over pending trade agreements and called on the government to provide immediate support to exporters.
“To remain competitive globally, we need a minimum 5% interest subvention,” he said, citing high domestic interest rates. India had earlier estimated FY25 exports at $820.93 billion on April 15. The revised figure reflects stronger-than-anticipated performance in the services sector.
