India’s Exports Rise 7.21 Per Cent To Over $600 Billion, But Trade Deficit Widens In January As Imports Surge Past $77 Billion

India’s overall exports, including merchandise and services, rose to $74.97 billion in January 2025, reflecting a notable increase from $68.33 billion in January 2024, according to data released by the Commerce Ministry, and reported by The Mint.

However, the country’s trade deficit expanded to $2.67 billion, compared to just $0.39 billion in the same period last year, as imports surged to $77.64 billion, up from $68.72 billion in January 2024.

Commerce Secretary Sunil Barthwal emphasised the steady growth in exports during the April 2024 to January 2025 period. He noted, “Our exports during April-January have seen a growth of 7.21 per cent. We have witnessed a $46 billion increase compared to the same period last year, with merchandise exports alone contributing $5 billion to this growth.”, as per The Mint.

A significant contributor to this expansion was non-petroleum exports, which recorded a 14.47 per cent surge in January, underscoring India’s strong performance in both goods and services exports.

Among key sectors, rice exports registered a staggering 44.61 per cent growth, reinforcing India’s position as a global leader in rice trade. Meanwhile, the gems and jewellery sector posted a 15.9 per cent growth in January, indicating a strong recovery after facing challenges in recent months.

Despite geopolitical conflicts and global tariff barriers, India’s export performance remains resilient, supported by strategic trade policies and rising international demand.

As of 15 January, India’s exports grew by 6.03 per cent during April-December 2024, reaching an estimated $602.64 billion, compared to $568.36 billion in the same period the previous year.

Merchandise exports for the first nine months of Financial Year (FY) 2024 stood at $321.71 billion, reflecting a 1.6 per cent increase from $316.65 billion recorded in the previous year.

Notably, non-petroleum exports in December 2024 rose by 5.05 per cent, reaching $33.09 billion, compared to $31.50 billion in December 2023.