Synopsis
India's total exports of goods and services reached $750.53 billion from April to February 2024-25, marking a 6.24% increase over the previous year. Merchandise exports grew slightly while service exports saw a significant rise, according to the Ministry of Commerce and Industry.Key Takeaways
- Exports grew by 6.24% to $750.53 billion.
- Merchandise exports valued at $395.63 billion.
- Service exports reached $354.90 billion.
- February exports estimated at $71.95 billion.
- Key growth drivers include electronic goods and coffee.
New Delhi, March 17 (NationPress) India's total exports of both merchandise and services experienced a robust growth of 6.24% during the period of April-February 2024-25, surpassing $750.53 billion, compared to $706.43 billion recorded in the same timeframe of the previous year, as per the data published by the Ministry of Commerce and Industry on Monday.
The total merchandise exports for the April-February period of 2024-25 amounted to $395.63 billion, a slight increase from $395.38 billion during the corresponding period of the last year, showing a modest growth of 0.06%.
Service exports are estimated to be $354.90 billion for the current financial year, marking an increase from $311.05 billion in the same April-February period of 2023-24.
In February, India's overall exports of goods and services were valued at $71.95 billion, reflecting a positive growth of 3.16% compared to February of the previous year, according to official statistics.
The cumulative non-petroleum exports during this 11-month span reached $337.01 billion, an increase of 6.43% from $316.64 billion in the same period last year.
Key contributors to the growth in merchandise exports for February 2025 included electronic goods, rice, mica, minerals, ready-made apparel, and coffee.
Exports of electronic goods surged by 26.46%, rising from $3 billion in February 2024 to $3.79 billion in February 2025.
Additionally, rice exports increased by 13.21% from $1.05 billion in February last year to $1.19 billion this year, while marine product exports rose by 3.4% to $0.51 billion.
Apparel and textile exports experienced a growth of 3.97%, rising from $1.48 billion in February last year to $1.53 billion in February 2025.
Exports of mica, coal, and other ores, including processed minerals, increased by 24.25% from $0.40 billion in February 2024 to $0.50 billion this February.
Moreover, coffee exports showed a remarkable growth of 22.32%, reaching $0.18 billion during the month.
The projected value of service exports for February 2025 is $35.03 billion, a rise from $28.33 billion in February of the previous year.
For this 11-month period, the value of service imports is estimated at $183.21 billion, compared to $161.71 billion from the same period last year.
As per the data, the services trade surplus for April-February 2024-25 stands at $171.69 billion, compared to $149.34 billion during the same timeframe last year.
