Exports rise 6% in FY25

Indian goods and services exports have crossed $820 billion in 2024-25, marking a nearly 6 per cent increase over the previous fiscal despite global economic uncertainties, the Commerce Ministry said on Wednesday.

The exports stood at $778 billion in 2023-24.

The fiscal “was difficult with so many things happening around the world,” Commerce Secretary Sunil Barthwal told reporters at a press briefing in New Delhi, referring to rising geopolitical tensions.

Barthwal said the country had seen its highest-ever export of non-petroleum merchandise. He added that non-petroleum exports are at the highest level.

“Our overall exports will be the highest ever, and they have crossed a threshold of $820 billion. We will be waiting for the final figures of services.

Barthwal highlighted concerns regarding potential merchandise dumping into India due to reciprocal tariffs amid ongoing trade tensions. “Rising US costs may prompt exporters from countries like China, Vietnam, and Indonesia — all facing US trade deficits—to divert goods to India, potentially triggering an import surge of products at risk of being dumped in here.

Additional Secretary in the Department of Commerce L Satya Srinivas told reporters that the government has set up an inter-ministerial import surge monitoring group as high tariffs on certain countries.

If any unusual surge is reported, the ministry can take action such as imposing anti-dumping or safeguard duties.

Business