RBI Reports 6% Rise in India’s Total Exports, Reaching All-Time High of $824.9 Billion

India has recorded a historic high in its trade performance, and overall exports reached a record US$824.9 billion during the financial year 2024-25, as per the latest statistics published by the Reserve Bank of India ( RBI ) on services trade in March 2025.

This is a healthy 6.01% rise from the last year's level of US$778.1 billion, indicating that the country is firmly on an upward trend in international trade. The boom was primarily driven by the high growth in services exports, which hit a record US$387.5 billion in 2024-25, a 13.6% increase from US$341.1 billion in the previous year. In March 2025 alone, services exports were at US$35.6 billion, an impressive year-on-year increase of 18.6% from US$30.0 billion in March 2024, reported PIB.

Also read: CBDT Notifies Revised ITR-5 Form for AY 2025-26

Complete practical guide to Drafting Commercial Contracts Click here

Besides, non-petroleum merchandise exports also made a contribution, rising to US$374.1 billion in 2024-25 a 6.0% increase from US$352.9 billion in 2023-24. This is the all-time high annual level of non-petroleum merchandise exports, showing the diversification and resilience of India's export base.

Experts opine that this increase in export would boost foreign exchange reserves, reinforce economic growth, and draw increased foreign investment. Yet, they also note that it would rely on countering global economic uncertainties, trade policy issues, and competitiveness in major industries.

Also read: Service Tax Adjudication Kept Pending for 6 to 11 Years: Delhi HC Quashes Two Orders and 5 SCNs

The government and industry players are likely to persist with initiatives related to innovation, export incentives, and market outreach plans to maintain India's export path on a rising trajectory in the next few years.

Support our journalism by subscribing to Taxscanpremium. Follow us on Telegram for quick updates