India's merchandise exports may grow to $500-510 bn in FY25 projected by FIEO

Economy Business

Merchandise exports from India may grow to $500-510 billion in the current financial year (FY25) after witnessing a 3 per cent contraction in the last financial year (FY24), Federation of Indian Export Organisations (FIEO), the apex body for exporters, said on Thursday. Services exports could be worth $390-400 billion, pushing the country's total exports to around $890-910 billion, FIEO President Ashwani Kumar told reporters. This will be driven by sectors such as engineering, and advertising services, among others. Expansion of the global capability centre and their businesses are expected to further push exports. India’s total exports stood at $778 billion in FY24.


      India’s traditional export markets such as the United States (US) and Europe will drive the growth.

      Demand for technology-driven sectors like electronics, machinery, high and medium technology, pharmaceuticals, medical and diagnostic equipment, among others, are expected to be robust.

     

 

     


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