India’s total exports have hit an all-time high of USD 824.9 billion in the fiscal year 2024–25, marking a growth of 01% compared to the previous year’s USD 778.1 billion, as reported by the Reserve Bank of India (RBI). This surge highlights India’s growing influence in global trade and marks a significant achievement in the country’s economic trajectory. The data, primarily focusing on services and merchandise trade, showcases how India is making strides toward becoming a major player in international markets.
The major contributor to this export growth has been services exports, which saw an impressive increase of 13.6% to reach USD 387.5 billion in 2024–25, up from USD 341.1 billion in 2023–24. This growth was particularly driven by the Information Technology (IT) and Information Technology-enabled Services (ITeS) sectors, which have become global leaders, with India being a primary supplier of software services and IT solutions. In March 2025 alone, services exports amounted to USD 35.6 billion, reflecting a strong 18.6% increase year-over-year.
In addition to services, merchandise exports, excluding petroleum products, also demonstrated remarkable growth, reaching a record high of USD 374.1 billion in 2024–25. This represents a 6.0% increase from USD 352.9 billion in the previous year. These exports encompass a wide range of products, including engineering goods, chemicals, textiles, and gems, which collectively reflect India’s diverse manufacturing and export base. Among these, engineering goods and auto parts have been key drivers, benefiting from global shifts in sustainable manufacturing practices and growing demand for high-quality, affordable products.
Looking ahead, India’s export sector is expected to continue its growth momentum. Several factors will contribute to this positive outlook. Firstly, the country is diversifying its export basket, with a focus on high-value-added products such as electronics, pharmaceuticals, and machinery. This diversification will help strengthen India’s competitive edge in international markets. Moreover, India’s services sector—especially in areas like cloud computing, artificial intelligence, and telecommunications—is projected to continue being a key driver of export growth. Services exports are expected to reach USD 500 billion by 2030, further solidifying India’s role as a global services powerhouse.