Indian Economy News

Export surge: India steps up on global stage

India’s export sector has evolved remarkably from traditional goods such as spices and textiles to technology, pharmaceuticals, and engineering products, driven by innovation and global integration. According to World Bank data, India’s exports grew by 7.1% in 2024, outpacing global export growth of 2.5%. The share of exports in India’s gross domestic product (GDP) rose from 19.8% in 2015 to 21.2% in 2024, highlighting their increasing contribution to the economy. During April-August 2025, India’s total exports (merchandise and services) stood at Rs. 30,71,291 crore (US$ 346.1 billion), marking a 5.19% YoY increase, with merchandise accounting for 53.09% and services 46.91%. The government has set a target of Rs. 88,74,000 crore (US$ 1 trillion) in exports for FY26, of which 34.61% has already been achieved in the first five months.
Merchandise exports reached Rs. 16,28,113 crore (US$ 183.74 billion), up 2.31% from last year, driven by electronics, engineering goods, pharmaceuticals, and agricultural products. Electronics exports rose by 40.63%, fuelled by Make in India and the Production Linked Incentive (PLI) scheme. Exports of cereals, meat, dairy, tea, and minerals also posted strong gains. India’s service exports grew 8.65% in April-August 2025, supported by IT, financial services, and tourism, contributing a surplus of Rs. 7,09,654 crore (US$ 79.97 billion). Government initiatives like the Foreign Trade Policy 2023, Districts as Export Hubs, Special Economic Zone (SEZ) expansion, and new goods and service tax (GST) reforms are further enhancing export competitiveness. With new trade agreements, rising manufacturing capabilities, and a skilled workforce, India is poised to reach new heights in global trade, reinforcing its vision of Atmanirbhar Bharat.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.