India has achieved a historic milestone in foreign trade, with goods and services exports reaching a record $820 billion in the financial year 2024–25, reflecting a 6% increase over the previous year’s total of $778 billion, according to data from the Commerce Ministry.
The announcement was made during a high-level meeting chaired by Commerce and Industry Minister Piyush Goyal, who praised exporters for their performance amid multiple global disruptions. These included the Red Sea crisis, the Israel-Hamas conflict, the ongoing Russia-Ukraine war, and a slowdown in major economies.
Minister Lauds Exporters’ Resilience
Goyal commended the resilience and determination of Indian exporters and emphasized that such a strong export performance in a volatile global environment reflects India’s growing reputation as a trusted and stable trading partner.
He assured stakeholders that the government remains committed to providing a supportive trade ecosystem, ensuring exporters can navigate the shifting global scenario with confidence.
Bilateral Trade Talks with the US
The Minister also briefed industry representatives on ongoing talks with the United States for a multi-sectoral Bilateral Trade Agreement (BTA), a dialogue initiated by Prime Minister Narendra Modi during his February 2025 meeting with President Trump.
Goyal highlighted that the agreement is being shaped carefully to serve India’s long-term interests, stressing that the government is working “with speed, but not undue haste” to reach the right balance in the agreement.
Boost for Manufacturing and Jobs
Goyal also noted that India’s growing credibility in global trade could lead to increased foreign investment in manufacturing, further strengthening the country’s role in the global supply chain and contributing to job creation.
Export Promotion Councils Present Views
Various Export Promotion Councils and industry bodies shared their perspectives during the meeting, voicing concerns about emerging global trade barriers and urging the government to take proactive measures to support the export sector.
Officials from the Commerce Ministry and line ministries were present to discuss solutions and offer reassurance that India is well-positioned to weather global headwinds and maintain export momentum.
