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Key Points

India has achieved a remarkable milestone by recording its highest-ever exports at $824.9 billion in the financial year 2024-25, representing a 6.01% increase from the previous year. Services exports were particularly robust, growing 13.6% to $387.5 billion and playing a crucial role in driving economic expansion. The merchandise exports, excluding petroleum products, also touched a record $374.1 billion, indicating strong industrial performance. Simultaneously, India and the United States are making significant progress towards a bilateral trade agreement, with discussions aimed at concluding the first tranche by Fall 2025.

Key Points: India Exports Surge to Record $824.9 Billion in 2024-25

  • Services exports reach historic $387.5 billion with 13.6% growth
  • Merchandise exports excluding petroleum rise to $374.1 billion
  • US-India bilateral trade agreement progressing for Fall 2025
2 min read

India's total exports rise 6 per cent to all-time high of $824.9 billion: RBI

India's exports hit an all-time high with services and merchandise driving growth, RBI data reveals significant economic momentum

"During the meetings in Washington, D.C., the team had fruitful discussions on wide-ranging subjects - Official Statement"

New Delhi, May 2

India's total exports have touched an all-time high of $824.9 billion in the financial year 2024–25, as per the latest data released by the Reserve Bank of India which includes the services trade for March 2025.

This marks a growth of 6.01 per cent over the previous year’s export figure of $778.1 billion.

Services exports continued to drive the growth momentum, reaching a historic high of $387.5 billion in 2024–25, up 13.6 per cent from $341.1 billion in the previous year. For March 2025, services exports stood at $35.6 billion, reflecting a year-on-year growth of 18.6 per cent compared to $30.0 billion in March 2024, the latest RBI figures show.

In 2024–25, merchandise exports excluding petroleum products rose to a record $374.1 billion, registering a 6 per cent increase from $352.9 billion in 2023–24 — the highest ever annual non-petroleum merchandise exports.

Earlier figures released by the Commerce Ministry on April 15 estimated that India’s total exports of goods and services increased by 5.5 per cent to a record $820.93 billion during the financial year ended March 31, 2025.

However, the actual figures for services exports had not been compiled by the RBI at the time and an extrapolated estimate was used to calculate the exports. With the real figures now coming in, the total value has gone up.

Meanwhile, going ahead while the hike in US tariffs announced by President Donald Trump is expected to hit world trade, India and the US are at an advanced stage of reaching a bilateral trade agreement soon.

As part of ongoing discussions, representatives of India’s Department of Commerce and the Office of the US Trade Representative held fruitful discussions, at a meeting in Washington, from April 23-25, to conclude the first tranche of the Bilateral Trade Agreement by Fall (Sept-Oct) of 2025.

This follows earlier bilateral discussions held in March 2025 in New Delhi.

"During the meetings in Washington, D.C., the team had fruitful discussions on wide-ranging subjects covering tariff and non-tariff matters. The team discussed the pathway for concluding the first tranche of the mutually beneficial, multi-sector Bilateral Trade Agreement by Fall of 2025, including through opportunities for early mutual wins," the statement said.

While productive sectoral expert-level engagements have taken place through the virtual format, in-person sectoral engagements are planned from the end of May, according to an official statement.

.--IANS

- IANS

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Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rahul K.
Great news for Make in India! 🚀 Our services sector is truly becoming a global powerhouse. But we need to focus more on manufacturing exports - China still dominates there. Hope the US trade deal brings more opportunities for our MSMEs.
P
Priya M.
As someone working in IT exports, I'm proud to contribute to this growth! But RBI should release data faster - 2 months delay for final figures is too long. Timely data helps businesses plan better.
A
Amit S.
The numbers look good but I worry about US tariffs. Our exporters already face tough competition from Vietnam and Bangladesh. Government must ensure trade deal protects our interests, not just American jobs.
N
Neha T.
Service exports growing at 13.6% is fantastic! Shows our youth's skills are in global demand. But we must invest more in education to maintain this edge. Also, when will we see similar growth in agricultural exports?
S
Sanjay R.
$825 billion is a big number but per capita we're still behind. Need to boost exports from smaller cities and towns. The US deal should include easier visas for our professionals - that will help services grow even more.
K
Kavita P.
Good achievement but let's not celebrate too soon. Global economy is uncertain and rupee depreciation helped these numbers. Real test is sustaining growth amid US-China tensions. Focus should be on diversifying to EU and African markets too.

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