India's Total Exports Cross US$ 562 Billion (April-November 2025), Driven by Strong Services and Electronic Goods
SDG 8: Decent Work and Economic Growth | SDG 9: Industry, Innovation, and Infrastructure
Ministry of Commerce & Industry | Department of Commerce
India’s cumulative exports of merchandise and services for the April–November 2025 period reached an estimated US$ 562.13 Billion, marking a positive growth of 5.43% compared to US$ 533.16 Billion in the corresponding period of 2024. Total imports for the same period were estimated at US$ 651.13 Billion, resulting in a combined trade deficit of US$ 89.00 Billion.
Key highlights of the cumulative performance (April–November 2025):
Merchandise Exports: Totaled US$ 292.07 Billion, growing by 2.62% year-on-year. Non-Petroleum exports grew at a healthier rate of 5.86%.
Services Exports (Estimated): Reached US$ 270.06 Billion, exhibiting a strong growth of 8.65% over the previous year. The Services trade surplus significantly increased to US$ 134.13 Billion from US$ 116.35 Billion.
Exports in November 2025 (Monthly Drivers): Key drivers of monthly merchandise export growth included Electronic Goods (38.96% growth), Engineering Goods (23.76% growth), Gems & Jewellery (27.80% growth), and Drugs & Pharmaceuticals (20.91% growth).
Top Destinations: The top five export destinations showing strong growth in the cumulative period (April–November 2025) were the U.S.A. (11.38%), China P. R.p. (32.83%), Spain (54.54%), U. Arab Emts (6.7%), and Hong Kong (22.37%).
Policy Relevance
The robust performance of the Services sector and high-growth, technology-intensive sectors like Electronic Goods and Engineering Goods suggests positive traction from government production-linked incentive (PLI) schemes and strategic trade agreements. However, the widening merchandise trade deficit (US$ 223.13 Billion) and the combined total trade deficit of US$ 89.00 Billion indicate continued pressure from non-petroleum, non-gems & jewellery imports. Policy attention must focus on sustaining the momentum of high-value exports and managing imports to improve the overall trade balance.
Follow the full news here: The cumulative exports (merchandise & services) during April-November 2025