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India Achieves Record $821 Billion in Exports for FY25 Despite Trade Deficit Surge

Services exports drive historic growth, while March data shows widening trade deficit and accelerated shipments to the US amid tariff concerns.

(Representation image)
The data showed India’s imports from China registered a robust double-digit growth while Indian exports to the country contracted. (Representational image)
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Representational Image

Overview

  • India's exports reached an all-time high of $821 billion in FY2024-25, with services exports surging by 12.4% to $383.51 billion, offsetting flat merchandise exports.
  • March trade data revealed a sharp trade deficit of $21.54 billion due to an 11.4% rise in imports compared to modest 0.7% export growth.
  • The US retained its position as India's largest trading partner for the fourth year, with bilateral trade at $131.84 billion and an $86.51 billion export contribution, up 11.6% year-on-year.
  • Exports to the US saw a 35% spike in March, driven by exporters accelerating shipments to counter potential reciprocal tariffs set to take effect after a temporary suspension.
  • India's trade deficit with China widened to $99.2 billion for FY25, with exports to China contracting by 14.5% and imports rising by 11.5%.