Against Global Headwinds, India’s Exports Hold Firm and Power Ahead

India's exports of goods and services reached an all-time high of $825.25 billion in the financial year 2024-25, marking a robust year-on-year growth of over 6%, Commerce Secretary Rajesh Agrawal announced on December 28, 2025. The achievement comes amid a difficult global environment characterized by rising trade barriers, protectionist tariffs, and geopolitical uncertainties that impacted many export-dependent economies. Despite these headwinds, India's export performance remained resilient, driven by diversified markets, strong demand in key sectors, and proactive government policies aimed at boosting competitiveness.

The record figure reflects solid contributions from both merchandise and services exports. Merchandise exports benefited from sustained demand in traditional markets such as the United States, Europe, and the Middle East, while non-traditional destinations in Africa, Latin America, and Southeast Asia provided additional growth avenues. Services exports, particularly in IT, software, business process outsourcing, and emerging areas like digital services, continued their strong upward trajectory. Commerce Secretary Agrawal highlighted that this growth was achieved even as several major trading partners imposed higher tariffs or non-tariff measures, underscoring the effectiveness of India's export diversification strategy and focus on value-added products.

Looking ahead, officials are optimistic that the positive momentum will extend into calendar year 2026 and the subsequent financial year. The government has continued to roll out supportive measures, including enhanced trade promotion schemes, improved logistics infrastructure, and incentives for sectors such as electronics, textiles, pharmaceuticals, and engineering goods. Initiatives like the Production Linked Incentive (PLI) scheme and efforts to deepen integration into global value chains are expected to further strengthen export capabilities. Commerce Secretary Agrawal noted that early indicators for the first half of FY 2025-26 suggest continued strength, with services exports maintaining robust growth and merchandise shipments showing stability despite external pressures.

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India's export resilience in 2025 stands in contrast to challenges faced by several peer economies, reinforcing the country's position as a reliable global supplier. With a focus on quality, sustainability, and market diversification, policymakers remain confident that exports will continue to play a pivotal role in driving economic growth, employment generation, and foreign exchange earnings in the coming year. As global trade dynamics evolve, India's strategic approach is positioned to help navigate uncertainties while capitalizing on emerging opportunities in the international marketplace.

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