The commerce ministry in its latest data has showed that
India's exports of goods and services hit an all-time high of $825 billion in
2024-25, growing by 6 per cent over the previous year's $778.1 billion, driven
by a record surge in the shipments of services that reached $386.5 billion in
the last fiscal despite global trade headwinds.
Following the release of March services exports data by the
RBI, the country's overall exports for 2024-25 have been revised to $824.9
billion from the earlier estimate of $820.93 billion, announced on April 15,
2025. Total exports were worth $778.13 billion in 2023-24. The data showed that
services exports jumped to a record high of $387.5 billion in 2024-25,
registering a robust 13.6 per cent growth over $341.1 billion in 2023-24. In
March, services shipments rose by 18.6 per cent to $35.6 billion compared to
$30 billion in March 2024. The main sectors which contributed to the growth in
exports included telecommunication, computer and information services;
transport; travel; and financial services.
Commenting on the data, Federation of Indian Export
Organisations (FIEO) SC Ralhan said that the data shows the resilience of
exporters. However, he said that as of today, the inflow of orders is not good
from the US and Europe. He said the US importers are waiting for the trade
agreement and this can affect our exports, and added that the government should
immediately announce an interest subvention scheme for exporters. He said
‘interest rates are high in the country and to become competitive in the global
markets, we need a minimum 5 per cent subvention’.
Source: Ace Equity
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