Goods and services exports rise 6% to $825 bn in FY25

India's exports of goods and services in financial year 2024-25 rose 6% to a record $825 billion, boosted by a 13.6% rise in exports of services to an all-time high value of $387.5 billion, despite uncertainties around global trade, according to revised government data.

- Rajeev Jayaswal

NEW DELHI:

The government on Thursday revised India's exports in FY25 to $824.92 billion from the initial $820.93 billion estimated on April 15 after receiving Reserve Bank of India's (RBI) data for services export in the month of March. The exports data for FY25 released in mid-April was based on provisional numbers of services export for March, which was an extrapolation of the previous month's numbers as RBI releases figures for services sector with a lag.

Announcing provisional trade data for the month of March and the full financial year of 2024-25, commerce secretary Sunil Barthwal on April 15 said that as services data for the month of March was a "conservative" estimate, India's actual exports in FY25 would exceed $821 billion.