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India touches record $825 bn in exports on strong pre-tariff growth, led by electronics, marine, rice shipments
The export surge carried into the first half of FY26 (April–September), with outbound shipments rising 5.86% year-on-year to $418.91 billion.
The US remained India’s largest export market in April–September 2025, accounting for 13.34% of total shipments.
India’s total exports—combining merchandise and services—rose to an all-time high of $825.25 billion in 2024–25, registering 6.05% growth despite the United States’ recent tariff hikes.
The export surge carried into the first half of FY26 (April–September), with outbound shipments rising 5.86% year-on-year to $418.91 billion.
Services continued to drive India’s export momentum. The sector logged $387.54 billion in 2024–25, expanding 13.63%, and contributed $199.03 billion in the first half of FY26 alone. Merchandise exports remained broadly stable at $437.70 billion in 2024–25, and $219.88 billion in April–September FY26.
According to the Ministry of Commerce, the strongest growth came from electronic goods (41.94%), engineering goods (5.35%), drugs and pharmaceuticals (6.46%), marine products (17.40%), and rice (10.02%).
The US remained India’s largest export market in April–September 2025, accounting for 13.34% of total shipments, followed by United Arab Emirates (9.34%), China (21.85%), Spain (40.30%), and Hong Kong (23.53%), respectively.
The record performance comes even as the US under President Donald Trump imposed 50% tariffs on Indian goods in August, citing trade barriers and India’s crude oil purchases from Russia. Trump has also signaled further tariff hikes on agricultural imports, including Indian rice, as part of a newly announced $412 billion support package for American farmers.
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