According to the Ministry of Commerce & Industry’s trade update (15 October 2025), India’s total exports (merchandise + services) reached US $ 413.30 billion during April–September 2025, up 4.45 % year-on-year, compared with US $ 395.71 billion a year earlier. Merchandise exports grew 3.02 % to US $ 220.12 billion, while services exports rose 6.12 % to US $ 193.18 billion. Imports in the same period totalled US $ 472.79 billion ( + 3.55 %), resulting in a trade deficit of US $ 59.48 billion, narrower than the previous year’s US $ 60.87 billion.
Non-petroleum exports rose 7.04 % to US $ 189.49 billion, led by electronic goods (+ 50.5 %), petroleum products (+ 15.2 %), engineering goods (+ 2.9 %), rice (+ 33.2 %), marine products (+ 23.4 %), and pharmaceuticals (+ 2.6 %). Export destinations showing strong growth include UAE (+ 24 %), China (+ 34 %), and Spain (+ 151 %).
The release also notes the IMF’s October 2025 World Economic Outlook upward revision of India’s GDP growth forecast to 6.6 % for 2025, citing solid Q1 performance that offset tariff-related headwinds from the United States.
The data confirm India’s resilience amid global trade slowdown. To sustain this momentum, policy focus may include export diversification, manufacturing competitiveness, and market access negotiations with high-growth partners such as UAE and China. Expanding electronics and pharmaceutical value chains under PLI schemes and improving logistics efficiency will be key to maintaining India’s export-led growth trajectory.
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IMF World Economic Outlook (October 2025)
