India’s overall exports, comprising both merchandise and services, rose 2.77 percent year-on-year in May 2025 to $71.12 billion, up from $69.20 billion in the same month last year, according to data released by the Commerce Ministry on Monday.
While merchandise exports dipped slightly to $38.73 billion from $39.59 billion, services exports grew to $32.39 billion from $29.61 billion in May 2024.
On the import side, India’s total goods and services imports in May stood at $77.75 billion, slightly lower than $78.55 billion a year ago. As a result, the trade deficit narrowed to $6.62 billion in May 2025, compared to $9.35 billion in May 2024.
For the first two months of the current financial year (April–May 2025), India’s total exports reached approximately $142.43 billion, marking a 5.75 percent year-on-year increase from $134.69 billion. Imports during the same period rose 6.52 percent to $159.57 billion from $149.81 billion in April–May 2024.
However, the cumulative trade deficit for April–May widened slightly to $17.14 billion from $15.12 billion in the same period last fiscal.
The government attributed the growth in exports to a series of policy initiatives, including the Production Linked Incentive (PLI) scheme, designed to boost manufacturing competitiveness, attract foreign investment, and deepen India’s integration into global supply chains.
(With inputs from ANI)
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