India total exports of merchandise and services reached a record $780 billion in FY2025 growing 12% year-on-year, Commerce Ministry data showed. Merchandise exports stood at $440 billion while services exports reached $340 billion. Engineering goods, pharmaceuticals, and chemicals led merchandise growth, while IT-BPM services drove the services surge. Electronics exports grew fastest at 38%, reflecting PLI scheme success in attracting Apple, Samsung, and Dixon to manufacture in India.
Commerce Secretary Sunil Barthwal said India is on course to become a $2 trillion exporter by 2030. The US remained the largest destination with $142 billion in exports. The trade deficit narrowed to $197 billion from $238 billion as imports grew at a slower 7%, aided by lower crude oil prices. Strong exports supported the rupee and kept the current account deficit below 1% of GDP for the year.