New Delhi: India’s exports of goods and services soared to a record $820 billion in FY 2024-25, up nearly 6% from $778 billion the previous year, despite global economic turbulence, per Commerce Ministry data released Wednesday.
Commerce and Industry Minister Piyush Goyal shared these figures during a meeting with Export Promotion Councils and industry groups in the capital, focusing on evolving trade dynamics.
Goyal praised exporters for hitting this peak amid challenges like the Red Sea disruptions, the Israel-Hamas conflict affecting the Gulf, the ongoing Russia-Ukraine war, and sluggish growth in some advanced economies, applauding their grit and determination.
At the discussion, Goyal updated exporters on negotiations with the US for a multi-sector Bilateral Trade Agreement (BTA), launched after PM Narendra Modi’s talks with President Trump in February 2025, one of Modi’s first global endorsements.
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Goyal reassured exporters of government support to thrive amid shifting global trade conditions, promising a favourable ecosystem.
He highlighted India’s proactive stance, seeking solutions that serve national interests. The BTA team carefully calibrates terms for optimal balance, urging exporters to stay calm and see opportunities. Goyal emphasized swift yet thoughtful action for the best results.
He noted varying global tariff strategies but underscored India’s edge potential manufacturing growth and job creation as it cements its role as a dependable, business-friendly hub, drawing major supply chain players.
Export Promotion Councils from diverse sectors voiced their perspectives on global trade hurdles, urging the government for forward-thinking steps to bolster the export ecosystem in these challenging times.
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The session saw participation from Export Promotion Councils, industry associations, and officials from Commerce and related ministries.