Despite global trade headwinds, India’s exports of products and services reached an all-time high of $825 billion in 2024–2025, powered by a record jump in service shipments that reached $386.5 billion in the past fiscal year, according to statistics from the Commerce Ministry.

The country’s total exports for 2024–25 have been updated from the initial estimate of $820.93 billion, made public on April 15, to $824.9 billion in light of the RBI’s publication of March services export statistics. In 2023–2024, exports totaled $778.13 billion. Services exports reached a new high of $387.5 billion in 2024–2025, according to the statistics, representing a strong 13.6% increase over $341.1 billion in 2023–2024.

Compared to $30 billion in March 2024, services shipments increased 18.6% to $35.6 billion in March. Telecommunication, computer and information services, transportation, tourism, and financial services were the primary industries that fueled the expansion of exports. A government announcement said, “The most recent release shows that India’s total exports reached a historic $824.9 billion in 2024-25, increasing by 6.01% over the $778.1 billion in the previous year.” SC Ralhan, president of the Federation of Indian Export Organizations (FIEO), commented on the statistics, stating that it demonstrates the exporters’ endurance.

“As of today, the inflow of orders is not goods from the US and Europe,” he said. He said that the government should quickly establish an interest-subvention program for exporters since the US importers are awaiting the trade deal, which might impact our exports. Interest rates are high in the nation, and Ralhan said that “we need a minimum 5% subvention” in order to compete in international markets.