India’s Economic Survey for 2025-26 highlights the country’s significant growth in global trade. Over the past two decades, India’s share of global merchandise exports has almost doubled, increasing from 1% to 1.8%. Similarly, its share in global commercial services exports has more than doubled, rising from 2% to 4.3%.
The survey emphasizes India’s resilience to global economic shocks and its integration into global markets as a rapidly growing economy. In the fiscal year 2025, India’s total exports reached a record $825.3 billion, with a 6.1% year-on-year growth driven by robust growth in services exports, which saw a 13.6% increase.
India’s merchandise exports in FY25 totaled $437.7 billion, with non-petroleum exports hitting a historic high of $374.3 billion. Key export growth drivers included electronics, pharmaceuticals, electrical machinery, and automobiles, showcasing increased competitiveness in higher-value manufacturing segments.
Agricultural exports also saw a significant uptick, rising from $34.5 billion in FY20 to $51.1 billion in FY25, registering an 8.2% compound annual growth rate. The survey predicts that India could achieve $100 billion in combined exports of agriculture, marine products, and food and beverage in the next four years.
The survey further highlights India’s successful trade agreements, such as the India-UK CETA and India-Oman CEPA, along with ongoing engagements with the US, Chile, and Peru. These initiatives underscore India’s diversified trade strategy and its efforts towards deeper integration into global value chains.
Services exports reached an all-time high of $387.6 billion in FY25, growing by 13.6%. The survey attributes this growth to India’s role as a global hub for Global Capability Centres (GCCs), which saw a 7% compound annual growth rate from FY20 to FY25.
