India Achieves Historic $820 Billion Export Milestone in 2024-25 Amid Global Challenges
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Synopsis
India’s exports have achieved a historic milestone, reaching over $820 billion in FY 2024-25, marking a near 6% increase from the previous year. This growth was announced amid global economic challenges, demonstrating the resilience of Indian exporters and the government's commitment to enhancing trade relations.
Key Takeaways
- Exports reached $820 billion in 2024-25.
- 6% growth compared to the previous financial year.
- Challenges included international conflicts and economic uncertainties.
- Ongoing Bilateral Trade Agreement (BTA) discussions with the US.
- Government support for exporters amidst global challenges.
New Delhi, April 10 (NationPress) India’s goods and services exports have exceeded a remarkable $820 billion in the financial year 2024-25, reflecting an approximate 6 percent increase compared to the $778 billion recorded in the previous fiscal year, despite ongoing economic uncertainties in the global market, as reported by the Commerce Ministry.
These statistics were disclosed during a meeting led by Commerce and Industry Minister (CIM) Piyush Goyal with various Export Promotion Councils and industry representatives to evaluate the evolving trade landscape.
The minister praised the exporters for achieving this unprecedented export level amid various challenges, including the Red Sea crisis, the Israel-Hamas conflict affecting the Gulf region, the persistent Russia-Ukraine conflict, and sluggish growth in several developed nations. He commended the exporters for their resilience and dedication.
During the meeting, CIM Goyal updated the exporters about the ongoing negotiations with the US regarding a mutually beneficial multi-sectoral Bilateral Trade Agreement (BTA). These discussions were initiated by Prime Minister Narendra Modi, who was among the first global leaders to endorse the BTA in his meeting with President Trump in February 2025.
The minister assured the exporters that the government is committed to creating a supportive environment that enables them to effectively adapt to the recent shifts in the global trade landscape.
He emphasized that the country is proactively seeking solutions that align with national interests. The team handling the BTA is focused on finding the right balance, and he urged exporters not to panic but rather to recognize the opportunities within the current situation. He guaranteed that the team is working swiftly yet thoughtfully to secure the best outcomes for the nation.
Goyal noted that different nations have varying approaches to tariff imposition. However, India possesses significant potential for increased manufacturing and job creation, as it has established itself as a trusted and reliable partner in the global supply chain, emerging as a predictable and business-friendly destination.
Various Export Promotion Councils, representing diverse sectors, shared their insights and forecasts concerning the emerging challenges in global trade and urged the government to implement proactive measures to assist the export sector during these difficult times.
The meeting included participation from Export Promotion Councils, industry groups, and officials from the Commerce Ministry and related agencies.
