Engineering, Pharma, Agriculture Drive India's Export Growth In FY 2024-25

(MENAFN- KNN India) New Delhi, Apr 16 (KNN) India's cumulative exports of merchandise and services during the fiscal year 2024-25 (April-March) are estimated to have grown by 5.50 per cent to USD 820.93 billion, compared to USD 778.13 billion in the previous fiscal year, according to data released by the government.

The merchandise exports segment showed marginal growth of 0.08 per cent, reaching USD 437.42 billion in FY 2024-25 compared to USD 437.07 billion in the previous year.

More significantly, non-petroleum exports registered a robust increase of 6.0 per cent, valued at USD 374.08 billion against USD 352.92 billion in FY 2023-24.

Electronic goods emerged as one of the strongest performing sectors, with exports surging by 32.47 per cent to USD 38.58 billion from USD 29.12 billion in the previous fiscal year.

Other notable growth areas included coffee exports, which rose by 40.37 per cent to USD 1.81 billion, and tobacco exports, which increased by 36.53 per cent to USD 1.98 billion.

Engineering goods, which form a substantial portion of India's export basket, saw exports increase by 6.74 per cent to USD 116.67 billion.

The pharmaceuticals sector also performed well, with drugs and pharmaceutical exports growing by 9.39 per cent to USD 30.47 billion from USD 27.85 billion in the previous year.

Agricultural exports showed positive momentum, with rice exports increasing by 19.73 per cent to USD 12.47 billion. Meat, dairy and poultry products rose by 12.57 per cent to USD 5.1 billion, while fruits and vegetables exports grew by 5.67 per cent to USD 3.87 billion.

In the textile and related sectors, ready-made garments (RMG) exports increased by 10.03 per cent to USD 15.99 billion, carpet exports grew by 10.46 per cent to USD 1.54 billion, and jute manufacturing including floor covering saw exports rise by 13.35 per cent to USD 0.38 billion.

For the month of March 2025 alone, India's total exports (merchandise and services combined) are estimated at USD 73.61 billion, representing a growth of 2.65 per cent compared to March 2024. Total imports for March 2025 are estimated at USD 77.23 billion, showing an increase of 4.90 per cent over the same month last year.

(KNN Bureau)

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