April To December 2025: India’s Exports Cross $ 634 Billion On Non-Oil Strength

By Saurabh Shukla

New Delhi: India’s cumulative exports of merchandise and services during April–December 2025 are estimated at $ 634 billion, marking a 4.33 per cent increase over the $ 608 billion recorded in the corresponding period last year.

The growth reflects a gradual but steady recovery in external demand amid a challenging global trade environment. While merchandise trade deficit during April-December 2025 was $ 248.32 billon as compared to $ 223.96 billion last year.

According to data released by Ministry of Commerce merchandise exports during the first nine month period of current financial year stood at $ 330 billion, up from $ 322 US dollar in April–December 2024. This has registered 2.44 per cent growth. A key support came from non-petroleum exports which rose more sharply by 5.51 percent reaching 288 Bn US dollar compared to 273 Bn US dollar a year earlier. The stronger performance of non-oil export points to improving competitiveness across several value added sectors.

Ministry's data also suggest that in Dec 2025 the sectors driving this momentum. Electronic goods export recorded a robust rise of close to 17 percent, increasing from US 3.57 Bn US dollar in December 2024 to 4.17 Bn US dollar. Meat, dairy and poultry products also saw a sharp jump of 30.16 percent reflecting sustained demand in overseas markets.

Exports of drugs and pharmaceuticals grew by 5.65 percent, reaching 2.63 Bn US dollar, reinforcing India’s position as a reliable supplier of medical products. Engineering good the backbone of merchandise exports, posted a modest increase of 1.28 percent, while marine product registered an 11.73 percent rise, underlining steady demand in select markets in Dec 2025 as compared to Dec 2024.

Overall, the export performance during April–Dec 2025 suggests a measured but broad-based expansion, with gains concentrated in non-petroleum and technology linked sectors. While global trade conditions remain uneven the data indicates that Indian exporters are gradually finding traction in key product segments.

Key Export Destinations

Between April and December 2025, India’s exports told a story of shifting global demand rather than uniform growth. A few markets stood out clearly. Spain emerged as the strongest gainer, with exports rising sharply, while China and Hong Kong also showed robust increases—signalling renewed momentum in parts of East Asia.

Exports to the USA and the UAE grew at a steadier pace, reinforcing their role as reliable, long-term partners. Germany too recorded modest improvement, suggesting resilience despite broader European uncertainty.

At the same time, exports to the Netherlands and the UK declined, underlining the uneven nature of recovery across Europe. Overall, the period reflects a selective but encouraging expansion, driven by strong gains in a handful of high-performing destinations.

Key Import Destinations

Imports during April–December 2025 reflected a clear rebalancing of sourcing patterns rather than a uniform rise across all partners. Ireland stood out sharply with import values more than doubling, making it the fastest growing source in this period. Hong Kong also recorded strong growth point to higher inflow through regional trading hubs.

Among major suppliers, imports from China and the USA increased at a steady double digit pace, underlining their continued importance in meeting domestic demand. The UAE maintained moderate growth, reinforcing its role as a stable intermediary market.

In contrast, imports from Russia and Iraq declined, while Saudi Arabia showed only marginal growth. Overall, the picture suggests selective strengthening of supply chains, with expansion concentrated in a few key sources rather than broad-based growth.

Experts Views On Trade Data

Commenting on the data, President of Federation of Exporters organization (FIEO) S C Ralhan stated that the continued expansion of India’s exports during April to December 2025 is a clear testament to the resilience, agility and growing global competitiveness of Indian exporters. He also emphasized that exporters have not only weathered global uncertainties but have also capitalized on emerging opportunities through market diversification, value addition and product competitiveness aided by a supportive policy ecosystem.

Explaining the rise in imports SC Ralhan pointed out that higher inflows of energy products, electronics, machinery and industrial inputs are indicative of robust domestic manufacturing activity, infrastructure expansion and investment demand, which augur well for medium term economic growth.

According to SC Ralhan out export strength lies in its broad and balanced market spread, with major destinations ranging from the USA and Europe to Asia and the Middle East helping cushion trade from global disruptions caused by geopolitical tensions, sanctions and shipping challenges. He noted that sustained engagement with advanced economies alongside growing ties with regional and emerging markets such as Bangladesh, Singapore and Saudi Arabia has strengthened India’s position as a reliable and competitive trading partner.

Exports Show Resilience

Reacting on the export data for the month of Dec 2025, Dr A Sakthivel, Chairman Apparel Export Promotion Council said that the Dec 2025 export performance showing a modest growth of 2.89 percent for the RMG sector reflects both the resilience and adaptability of our industry in a challenging global environment. While demand in key international markets such as the USA has been uneven due to inflationary pressures and geopolitical uncertainties, Indian apparel exporters have managed to hold ground through product diversification, improved compliance and a stronger focus on value added segments.

Looking ahead he is are cautiously optimistic about the growth prospects of India’s RMG exports this year. With global demand expected to improve gradually, India is well-positioned to gain market share due to its reliable supply chain, compliance standards, and growing design capabilities With sustained policy support and continued industry efforts, we are confident that the apparel sector will return to a stronger growth trajectory in the coming time, added Dr A Sakthivel.

Accoridng to him With India EU FTA likely to be concluded within a fortnight and UK FTA about to be implemented shortly, Indian apparel industry will have a tremendous edge in market access to these developed economies holding substantial share in Indian apparel export basket, which in turn will hugely boost our export prospects.