India’s exports exceeded a record value of $820 billion in the last fiscal year 2024-25, just shy of a 6% rise from $778 billion in the last fiscal, based on figures issued by the Ministry of Commerce and Industry.
The statement was made in a top-level meeting, which was chaired by Commerce and Industry Minister Piyush Goyal, who met with members of Export Promotion Councils and industry bodies to assess the evolving global trade scenario.
Despite unprecedented worldwide upheaval headed by the Red Sea crisis, ongoing Israel-Hamas fighting, Russian-Ukrainian conflict, and absence of growth in developed economies, Indian exporters somehow managed to achieve record-breaking. The exporters have amazed Goyal with their grit and determination during this type of disturbance.
“This record achievement is a reflection of the sheer hard work of our exporters. Even in the face of many global headwinds, India has been able to show that it can show the way with stability and strength,” Goyal added.
Negotiations for US-India Bilateral Trade Agreement (BTA)
In a major revelation, the minister disclosed that there is a push for negotiations for a multi-sectoral Bilateral Trade Agreement (BTA) with the US. Prime Minister Narendra Modi had commenced negotiations with then-President Donald Trump in February 2025. Goyal assured stakeholders that the government is going cautiously but surely to shape a deal best suited to national interests.
“The focus is on achieving the right balance. We’re not rushing into it. The team is working with speed, but not haste,” he noted.
India as a Global Trade Hub
Goyal also emphasized the increasing image of India as a reliable and steady trade partner. He noted that in the backdrop of increasing protectionism and shifting tariff regimes globally, Indian industry will tend to draw global supply chain players, leading to increased employment and economic growth.
Export Promotion Councils of different industries expressed their opinions and called for proactive government action to combat global trade barriers.
The session had the presence of top Commerce Ministry officials and officials of the line ministry, indicative of a whole-of-government process towards ensuring India’s export growth path.
