India’s Exports Climb to $74.97 Billion in January 2025, Trade Deficit Expands to $2.67 Billion

New Delhi: India’s total exports, including both merchandise and services, surged to $74.97 billion in January 2025, up from $68.33 billion recorded in January 2024, according to data released by the Commerce Ministry. This growth underscores India’s strengthening position in global trade, despite ongoing economic challenges worldwide.

However, the trade deficit widened significantly, reaching $2.67 billion in January 2025 compared to just $0.39 billion a year earlier. This rise was attributed to an increase in imports, which climbed to $77.64 billion from $68.72 billion in the same period last year.

Commerce Secretary Sunil Barthwal commented on the performance, stating, “Our exports during April 2024 to January 2025 have grown by 7.21 percent. Compared to the same period last year, we have witnessed a $46 billion increase in total exports. Merchandise exports alone contributed an additional $5 billion during this timeframe.”

The non-petroleum export sector performed exceptionally well, registering a 14.47 percent increase in January. Barthwal noted, “This significant growth highlights the positive momentum in both merchandise and services exports. Our continued efforts to diversify export markets and enhance competitiveness are yielding results.”

Sectoral Performance

Among the key export sectors, rice exports saw a remarkable 44.61 percent increase, reaffirming India’s dominance in the global rice trade. The gems and jewellery sector also experienced a strong resurgence, growing by 15.9 percent in January 2025, signaling a revival in global demand for Indian craftsmanship.

Despite geopolitical uncertainties and tariff challenges, India’s exports have displayed resilience, driven by favorable trade policies and sustained international demand.

Year-to-Date Export Trends

As of January 15, India’s exports for April-December 2024 grew by 6.03 percent, reaching approximately $602.64 billion compared to $568.36 billion in the same period in 2023. Merchandise exports for the first nine months of FY2024 amounted to $321.71 billion, reflecting a modest 1.6 percent increase from $316.65 billion in the previous fiscal year.

Non-petroleum exports, a crucial component of India’s trade, also demonstrated strong performance. In December 2024, these exports rose by 5.05 percent, totaling $33.09 billion, up from $31.50 billion in December 2023.

The steady increase in exports highlights India’s growing presence in international trade. However, the widening trade deficit signals the need for strategic measures to manage import growth while maintaining export momentum. Policymakers continue to focus on trade diversification, enhanced logistics, and improved market access to sustain long-term growth in India’s export sector.

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