Services boost exports to all-time high

India's exports rose 6.01% year-on-year to an all-time high of $824.9 billion in 2024-25, propelled by a 13.6% on-year rise in services exports to a record $387.5 billion, showed the Reserve Bank of India's (RBI) final services trade data released on Friday.

- Dhirendra Kumar

March alone saw services exports surge 18.6% on-year to $35.6 billion, reflecting continued global demand for India's IT, business, financial, and travel-related services, the RBI said.

The merchandise segment also contributed to the overall rise, with non-petroleum goods exports reaching a new peak of $374.1 billion in 2024-25, up 6% from $352.9 billion a year ago.

This is the highest annual figure for India's non-petroleum merchandise shipments, offering some reassurance when traditional goods exports have been under pressure from tightening global demand and geopolitical disruptions.