India’s cumulative total exports (merchandise and services) registered a y-o-y growth of over 5%, increasing from USD 134.6 billion during April-May 2024 to USD 142.4 billion during April-May 2025. This resilient exports growth is driven by positive momentum of 3% in merchandise and 9.1% in services exports during the same period, said Shri Hemant Jain, President, PHDCCI, in a press statement issued here today.

Hemant Jain

In May 2025, India’s overall exports (merchandise and services combined) accelerated to USD 71.12 billion, marking a 2.7% increase compared to the same month last year. This growth is driven by high merchandise exports of electronic goods (54.1%), marine products (26.8%), organic and inorganic chemicals (16%), drugs and pharmaceuticals (7.4%), and readymade garments of textiles (11.3%), among others. On the import side, declines were seen in categories such as pulses, transport equipment, fertilizers, crude oil, coal, gold, and vegetable oils , he said.

Amid USA trade policy uncertainty, India’s trade relations remained resilient as exports to the USA grew by over 20% during April-May 2025 vis-a-vis April-May 2024. Trade with other major partners also showed promising trends. Exports to Australia surged by over 50%, Oman by 40.9%. China by 18.7%, and the United Arab Emirates by 12.3%, he said.

Going ahead, we anticipate exports to grow robustly and resiliently supported by government continuous efforts to diversify the export market and boost India’s exports competitiveness with initiatives like the recent restoration of RoDTEP benefits, he said.