India’s total exports have touched an all-time high of US$824.9 billion in the financial year 2024–25, as per the latest data released by the Reserve Bank of India on services trade for March 2025. This marks a growth of 6.01% over the previous year’s export figure of US$778.1 billion, setting a new milestone in the country’s trade trajectory.

Services exports continued to drive the growth momentum, reaching a historic high of US$387.5 billion in 2024–25, up 13.6% from US$341.1 billion in the previous year. For March 2025, services exports stood at US$35.6 billion, reflecting a year-on-year growth of 18.6% compared to US$30.0 billion in March 2024.

In 2024–25, merchandise exports excluding petroleum products rose to a record US$374.1 billion, registering a 6.0% increase from US$352.9 billion in 2023–24 — the highest ever annual non-petroleum merchandise exports.

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Abhishek Dayal/Abhijith Narayanan

Exports growth: record annual exports driven by historic services and strong non petroleum merchandise performance. Reserve Bank of India data for March 2025 records a new high in India's external sector: total exports for 2024-25 reached a record level driven by historic services exports and highest-ever annual non petroleum merchandise exports, with the release distinguishing services, merchandise excluding petroleum, and monthly movements to inform assessment of sectoral contributions to aggregate export growth.