India’s steady rise as a key player in global trade is evident in its increasing share of both global merchandise exports and commercial services exports, said the Economic Survey 2025-26 released on Thursday.
According to the WTO’s World Trade Statistics, between 2005 and 2024, India’s share of global merchandise exports has nearly doubled, rising from 1 per cent to 1.8 per cent.
Similarly, its share in global commercial services exports has more than doubled, rising from 2 per cent to 4.3 per cent.
The Survey states that India’s external performance demonstrates resilience to global shocks and highlights the structural characteristics associated with a rapidly growing economy that is integrating more deeply into global markets.
Notably, India’s total exports reached a record $825.3 billion in FY25, registering a 6.1 per cent year-on-year growth, driven primarily by robust growth in services exports which experienced a 13.6 per cent (YoY) increase.
This export momentum continued into FY26, with Q1, Q2 and Q3 recording the highest-ever exports for the respective quarters despite global uncertainties.
The country’s merchandise exports totalled $437.7 billion in FY25, in which Non-petroleum exports reached a historic high of $374.3 billion.
Electronics, pharmaceuticals, electrical machinery and automobiles emerged as key export growth drivers, reflecting rising competitiveness in higher-value manufacturing segments, said the Survey.
Agricultural exports increased from $34.5 billion in FY20 to $51.1 billion in FY25, registering a CAGR of 8.2 per cent.
The country has the potential to reach $100 billion of combined exports of agriculture, marine products and food and beverage in the next four years, the Survey highlighted.
The recently concluded India-UK CETA and India-Oman CEPA, and ongoing engagements with the US, Chile and Peru, underpins India’s diversified trade strategy and supports deeper integration into global value chains, it added.
Meanwhile, services exports touched an all-time high of $387.6 billion in FY25, growing by 13.6 per cent.
The Survey noted that this growth is also due to the country’s success as a global hub for Global Capability Centres (GCCs), which grew at a 7 per cent CAGR from FY20 to FY25.
