India has once again proven the resilience and adaptability of its ecosystem. According to the latest estimates, the country’s total exports—including both merchandise and services—reached $820.93 billion in FY 2024–25, registering an impressive 5.5% growth over the previous year’s $778.13 billion. The performance not only signals robust demand across global markets but also reaffirms the growing competitiveness of Indian products—especially those driven by MSMEs, agriculture, and electronics.
Merchandise Momentum and Non-Petroleum Strength
The merchandise export value for FY25 stood at $437.42 billion, showing steady performance despite global market volatility. Non-petroleum exports, which reflect broader industrial activity, grew by 6%, touching $374.08 billion, up from $352.92 billion last year. The boost came from a broad spectrum of products, underlining the increasingly diverse nature of India’s export basket.
Sectoral Stars: From Coffee to Computers
Several product categories saw double-digit growth in exports, spearheaded by sectors with strong MSME linkages and innovation-led scaling. Notably:
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Coffee exports surged 40.37%, rising to $1.81 billion.
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Tobacco exports rose 36.53%, reaching $1.98 billion.
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Electronic goods, a sunrise sector under PLI schemes, jumped 32.47% to $38.58 billion.
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Rice, one of India’s staple export items, rose nearly 20% to $12.47 billion.
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Pharmaceuticals, often led by MSMEs and mid-size firms, grew 9.39%, hitting $30.47 billion.
Other standout performers included carpets, readymade garments (RMG), fruits and vegetables, and plastic products—all areas where micro and small enterprises play a critical role.
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MSMEs Driving the Value Chain
India’s MSMEs are emerging as the silent growth catalysts. From jute and floor coverings to meat, dairy, and processed food exports, small businesses are aligning with global standards, enabling higher value realization and demand across markets. Their contribution becomes more significant when viewed through the lens of employment, rural sourcing, and skill utilization.
Digital Transformation and Policy Support
The consistent push for trade facilitation, improved digital infrastructure, and initiatives like RoDTEP, MEIS, and PLI schemes have helped exporters remain competitive. Logistics digitization and supply chain strengthening have further reduced turnaround times, making Indian goods more attractive globally.
Looking Ahead
While exports in March 2025 alone hit $73.61 billion, the trend suggests India could be well on its path to becoming a $1 trillion export economy by the end of the decade. This growth story is not just about big corporates—it’s powered by a network of entrepreneurs, farmers, manufacturers, and professionals across India’s vibrant MSME and service ecosystems.