Total exports jump to Rs. 69,11,025 crore (US$ 825 billion) in FY25 as services shipments rise over 13%

India's total exports reached an all-time high of Rs. 69,11,025 crore (US$ 825 billion) in FY25, with services shipments playing a significant role in this growth. According to the latest data from the Reserve Bank of India, the country's overall exports for FY25 have been revised upwards to Rs. 69,11,025 crore (US$ 825 billion), an increase from the earlier estimate of Rs. 68,76,931 crore (US$ 820.93 billion). This represents a 6.01% growth compared to the previous year's exports of Rs. 65,18,144 crore (US$ 778.1 billion). The surge in services exports was particularly notable, reaching a record high of Rs. 32,46,088 crore (US$ 387.5 billion) in FY25, marking a robust 13.6% increase from the Rs. 28,57,395 crore (US$ 341.1 billion) recorded in FY24. In March alone, services shipments rose by 18.6% to Rs. 2,98,221 crore (US$ 35.6 billion), compared to Rs. 2,51,310 crore (US$ 30 billion) in the same month of the previous year. The main sectors contributing to this export growth were telecommunication, computer and information services, transport, travel, and financial services.

Despite this positive trend, industry experts have highlighted potential challenges. SC Ralhan from the Federation of Indian Export Organisations (FIEO) noted that while the data reflects the resilience of exporters, there are concerns about the current inflow of orders from the US and Europe. US importers are reportedly waiting for trade agreements, which could impact Indian exports. Given the country's high interest rates, Ralhan suggested that the government should immediately announce an interest subvention scheme for exporters to enhance competitiveness in global markets. He proposed a minimum 5% subvention to support exporters in the face of these challenges.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.