India’s goods and services exports have crossed a record 820 billion US dollars in the financial year 2024-25, despite economic uncertainties in global markets. Commerce Ministry said this represents a close to 6 percent increase over the corresponding figure of 778 billion dollars for the previous financial year. The figures were revealed at a meeting held by Commerce and Industry Minister Piyush Goyal with the Export Promotion Councils and industry bodies in New Delhi to discuss the emerging trade scenario. The minister complimented the exporters for the all-time high achievement in exports despite multiple headwinds, including the Red Sea crisis, Israel-Hamas conflict spilling over to the Gulf region, continuation of the Russia-Ukraine conflict and slow growth in some developed economies. The Minister lauded the exporters for their resilience and efforts. During the meeting, Mr Goyal also apprised the exporters regarding ongoing discussions with the US for a mutually beneficial multi-sectoral Bilateral Trade Agreement (BTA). The minister said the team working on BTA is exploring the right mix and the right balance, and he exhorted the exporters not to panic and look at the silver lining in the present scenario.
