India's Merchandise Exports Forecast to Reach $500-510 Billion in FY25
| Aspect | Details |
|---|---|
| Merchandise Exports FY25 | Projected at $500-510 billion, rebounding from a 3% contraction in FY24. |
| Services Exports FY25 | Estimated at $390-400 billion. |
| Total Exports FY25 | Approximately $890-910 billion. |
| Key Growth Sectors | Engineering, advertising services, global capability centers. |
| Traditional Export Markets | United States and Europe. |
| Technology-Driven Sectors | Electronics, machinery, pharmaceuticals, medical equipment. |
| Labor-Intensive Industries | Apparel, footwear, gems & jewelry, expected to rebound after double-digit declines in FY24. |
| Credit Challenges | Inflation, high commodity prices, delayed export proceeds remittance, longer voyage times, slow offtake. |
| FIEO Recommendation | Sub-target for export credit under priority sector lending, akin to MSMEs. |