India’s Total Exports Hit Record $824.9 Billion in FY25
India’s total exports hit $824.9 billion in FY2024–25, marking a 6% year-on-year growth, as per the latest RBI data. This includes both merchandise and services exports—driven by IT services, resilient global demand, and government-backed trade reforms.
The focus keyphrase India’s total exports appears across this blog to enhance SEO relevance and topical authority.
What Drove India’s Total Exports to a New Peak?
As per the RBI Bulletin (April 2025) and statements made by key trade bodies, the surge in India’s export value is a combined result of:
- Robust Services Sector:
Software exports, business outsourcing, and fintech services saw a sharp uptick. - Diversified Trade Partners:
India expanded trade beyond China and the US, boosting ties with Middle East, Africa, and ASEAN. - PLI Schemes:
Government incentives under Production-Linked Incentive (PLI) boosted electronics and pharma exports. - Weakened Rupee Benefit:
A depreciating INR made Indian exports relatively cheaper and competitive. - Free Trade Agreements (FTAs):
New or revised FTAs with UAE, Australia, and the UK played a key role in services and textile exports.
India’s Total Exports: Goods vs. Services (FY2024–25)
| Export Type | FY2023–24 | FY2024–25 | % Growth |
|---|---|---|---|
| Merchandise Goods | $450.7 Bn | $479.7 Bn | 6.4% |
| Services | $327.3 Bn | $345.2 Bn | 5.5% |
| Total | $778 Bn | $824.9 Bn | 6.0% |
Source: RBI Bulletin, DGFT updates
RBI’s Outlook on Export Growth
The RBI Monetary Policy Report (April 2025) projects moderate export growth in FY26, driven by:
- Normalisation of global interest rates
- Stabilisation in freight and shipping rates
- Growing domestic capacity in semiconductors and renewable energy components
Legal Reference: DGFT & RBI Updates
- DGFT Notification No. 64/2023: Enabled digital issuance of export authorisations
- RBI Circular A.P. (DIR Series) No. 04 (2024-25): Simplified export proceeds realisation timelines
- Linked: DGFT Trade Notices
Expert View: Export Compliance Matters More Than Ever
“High export numbers are great, but non-compliance with FEMA or GST laws can reverse gains quickly.”
– Vivek R., Trade Compliance Advisor, Chennai
Ensure your export documentation (Invoice, LUT, GSTR-1, and BRC) is fully aligned to avoid penalties or blocked refunds.
How Efiletax Helps
- GST LUT filing for exporters
- DGFT IEC code registration
- FEMA advisory for outward remittances
- Real-time export compliance support
FAQ on India’s Total Exports
Q1: Is the $824.9 billion figure inclusive of both goods and services?
Yes. RBI data includes merchandise and services exports combined.
Q2: Which sector led export growth in FY25?
IT and digital services saw the highest contribution, followed by pharma and electronics.
Q3: Do exporters still need LUT for zero-rated supply?
Yes. Exporters must file Letter of Undertaking (LUT) annually to avoid IGST payment on exports.
India’s total exports hit a record $824.9 billion in FY25, led by services and merchandise growth. RBI attributes this to global demand, PLI schemes, and new FTAs. Exporters must stay compliant with GST and FEMA to sustain this growth.