India’s total exports jump to record $825 bn in FY25 as services shipments rise over 13%

India’s exports reached a record USD 824.9 billion in 2024-25, propelled by a surge in services exports to USD 387.5 billion. This represents a 6.01% growth over the previous year, with key sectors like telecommunications and financial services contributing significantly. However, concerns remain about order inflows from the US and Europe, prompting calls for government […]

The commerce ministry’s Export Promotion Mission (EPM), with a Rs 2,250 crore outlay, is set to launch with up to 12 components. These include easy credit schemes for MSMEs and e-commerce exporters, overseas warehousing facilitation, and global branding initiatives.

India, the world’s leading sugar producer, is projected to export up to 8 lakh tonnes of sugar in the 2024-25 season, falling short of the 10 lakh tonne quota. As of now, 3 lakh tonnes have been shipped, with another 60,000 tonnes at ports.

The US, UK, and Canada have raised concerns at the WTO regarding India’s Make in India initiative and various subsidy programs. Questions were specifically directed towards the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), fisheries subsidies, and agricultural support. India has addressed some queries and promised further information on fish-related subsidies […]

Commerce Minister Piyush Goyal may revisit London to finalize the India-UK Free Trade Agreement, aiming to resolve remaining issues. Negotiations are progressing rapidly, with many issues already addressed during high-level ministerial visits. The FTA, encompassing goods, services, and investments, is nearing completion, pending resolution of concerns like carbon border adjustments and service sector access.

India urges WTO members to promptly address pending ministerial mandates. Delaying decisions on public stockholding and special safeguard mechanisms could worsen global hunger. India highlights the need for fair agricultural support. Current rules favor developed nations. Developing countries struggle to provide minimal support. The 14th Ministerial Conference will be held in Cameroon in 2026.

Commerce Minister Piyush Goyal and Norwegian Foreign Minister Espen Barth Eide discussed implementing the India-EFTA Trade and Economic Partnership Agreement, aiming to boost trade and investment. EFTA’s commitment includes promoting USD 100 billion in FDI to India over 15 years, potentially creating 1 million jobs.