India’s goods and services exports hit record $820 billion in FY25 despite global headwinds
New Delhi: India’s combined goods and services exports touched a record $820 billion in the financial year 2024-25, marking an increase of nearly 6% from the $778 billion posted in the previous year, according to Commerce Ministry data.
The figures were shared during a review meeting chaired by Commerce and Industry Minister Piyush Goyal with Export Promotion Councils and industry bodies in the capital to assess the current trade landscape.
Despite economic uncertainty in global markets, Goyal praised exporters for achieving the highest-ever export figures amid persistent global challenges such as the Red Sea crisis, the ongoing Russia-Ukraine conflict, and the spillover of the Israel-Hamas war into the Gulf region.
Held a very productive meeting with stakeholders of various Export Promotion Councils and Industry Associations. Deliberations focused on apprising stakeholders on the ongoing discussions with the US for a mutually beneficial multi sectoral Bilateral Trade Agreement (BTA).… pic.twitter.com/3fulrOdf9w
— Piyush Goyal (@PiyushGoyal) April 9, 2025
He credited exporters for their resilience and consistent efforts in maintaining export momentum.
Goyal also informed industry representatives about ongoing negotiations with the United States on a wide-ranging Bilateral Trade Agreement (BTA).
He said the initiative was set in motion by Prime Minister Narendra Modi during his February 2025 meeting with then-President Donald Trump, making Modi one of the first global leaders to endorse the framework.
The minister assured exporters of the government’s continued efforts to maintain a favourable environment that would help them navigate the evolving global trade scenario.
He added that the country was approaching the BTA deliberations with pragmatism and patience.
“The team is working with speed but not in undue haste to ensure the right outcome for the country,” Goyal said, urging exporters to remain calm and “look at the silver lining in the present scenario.”
He observed that while tariff strategies varied across countries, India stood to benefit from shifts in global supply chains, with increased manufacturing potential and job creation.
He noted that India had established itself as a “trusted and reliable partner” and a “predictable, business-friendly destination.”
Export Promotion Councils representing various sectors shared their feedback on the global trade situation and urged the government to adopt proactive measures to help the industry tide over emerging challenges.
Officials from the Commerce Ministry, line ministries, industry bodies, and Export Promotion Councils participated in the meeting.
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