India was long a cautious trader, wary of free-trade deals. That changed after 2014: total exports of goods and services grew about 76% over the decade, from roughly $466 billion in 2013-14 to a record $825 billion in 2024-25, even through a COVID dip in 2020.
Exports & Trade
Exports & Trade
India's total exports — goods plus services — grew about 76% over the decade, from roughly $466 billion in 2013-14 to a record $825 billion in 2024-25. Services exports alone more than doubled to $387 billion. India also signed a wave of trade deals — with the UAE, Australia, EFTA and the UK — after years of caution. The counter shows total exports.
$825 bn
Total exports (FY25)
$387 bn
Services exports
~$437 bn
Merchandise exports
Total exports (US$ bn)
| Year | Total exports |
|---|---|
| 2014 | 466 US$ bn |
| 2015 | 416 US$ bn |
| 2016 | 440 US$ bn |
| 2017 | 498 US$ bn |
| 2018 | 538 US$ bn |
| 2019 | 526 US$ bn |
| 2020 | 500 US$ bn |
| 2021 | 676 US$ bn |
| 2022 | 776 US$ bn |
| 2023 | 778 US$ bn |
| 2024 | 800 US$ bn |
| 2025 | 825 US$ bn |
2014
0US$ bn
Total exports
20142025
Since 2014
Added
+359 US$ bn
2014
466 US$ bn
2025
825 US$ bn
Why it matters Exports earn foreign exchange, create jobs and tie India into global markets — and trade deals open doors for Indian goods and services.
- Total exports ~$466 bn (2013-14) → ~$825 bn (2024-25); +76%
- Services exports $158 bn → $387 bn
- New FTAs: UAE (2022), Australia (2022), EFTA (2024), UK (2025)
- Road ahead: narrowing the merchandise trade deficit by making more at home (crude, electronics)
- Source: Ministry of Commerce / RBI
History
Services power & new deals
Services exports — IT, consulting, global capability centres — more than doubled from $158 billion to $387 billion, and India hosts more than half the world's Global Capability Centres. After years of hesitation India signed trade deals with the UAE (2022), Australia (2022), the EFTA bloc (2024) and the UK (2025), with an EU deal agreed in 2026.
How it works
India's trade has two very different halves. Its services exports — IT, software and business services, backed by a huge English-speaking workforce — run a large surplus and have doubled in a decade. Its merchandise (goods) trade runs a deficit, because India imports costly crude oil, gold and electronics. Trade policy uses tariffs, export-incentive schemes and a fast-growing web of free-trade agreements to widen market access.
Outlook
Total exports hit about $825 billion in 2024-25 (up 76% in a decade), with services exports at $387 billion. The next step is narrowing the goods-trade deficit by making more at home (crude, electronics, gold-substitutes) and helping merchandise exports catch up with services, as new deals — the UAE and Australia agreements, and negotiations with the UK and EU — mature into real market access.
The road ahead
The next step is narrowing the merchandise trade deficit by making more at home (crude, electronics, gold) and helping goods exports catch up with services as new trade deals mature.
By the numbers
Total exports ~$466 bn (2013-14) → ~$825 bn (2024-25), +76%; services $158 → $387 bn; FTAs with UAE, Australia, EFTA, UK. Source: Ministry of Commerce / RBI.
Source: Ministry of Commerce / RBI — total exports, goods + services (US$ billion), 2014–2025.