- India shows strong growth in merchandise and services exports
- Economic Survey 2025-26 highlights record export performance
Delhi/Hyderabad: India’s rise as a key player in global trade is evident from its increasing share in both merchandise and services exports, according to the Economic Survey 2025-26 released on Thursday. The Survey noted that India’s external performance demonstrates resilience to global shocks and reflects its deeper integration into global markets.
Between 2005 and 2024, India’s share of global merchandise exports nearly doubled, rising from 1 per cent to 1.8 per cent. Similarly, its share in global commercial services exports more than doubled, from 2 per cent to 4.3 per cent. The Survey emphasized that these trends highlight structural strengths of a rapidly growing economy adapting to international trade demands.
Record exports driven by manufacturing and services sectors
India’s total exports reached a record $825.3 billion in FY25, registering a 6.1 per cent year-on-year growth. Services exports grew 13.6 per cent (YoY), contributing significantly to the overall increase. Merchandise exports totalled $437.7 billion, with Non-petroleum exports hitting a historic high of $374.3 billion. Electronics, pharmaceuticals, electrical machinery, and automobiles emerged as key drivers, reflecting competitiveness in higher-value manufacturing.
Agricultural exports also showed steady growth, rising from $34.5 billion in FY20 to $51.1 billion in FY25, a CAGR of 8.2 per cent. The Survey highlighted that India could achieve $100 billion in combined exports of agriculture, marine products, and food and beverages within the next four years. Meanwhile, services exports reached an all-time high of $387.6 billion, supported by the growth of Global Capability Centres (GCCs), which expanded at 7 per cent CAGR from FY20 to FY25.
Trade agreements support diversified global integration
The Survey underlined India’s diversified trade strategy, citing recently concluded agreements such as India-UK CETA and India-Oman CEPA. Ongoing negotiations with the US, Chile, and Peru are also supporting India’s integration into global value chains. According to the Survey, these agreements, combined with strong domestic production and export competitiveness, are helping India consolidate its position as a resilient and reliable trading partner worldwide.
India’s rising exports in merchandise and services signal a sustained trajectory toward becoming a global trade powerhouse, with strong contributions from manufacturing, agriculture, and digital services.
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