How India’s $825 Billion Export Engine is Reshaping Global Supply Chains

India’s exports surged to a record $825 billion in FY2024-25 (April 2024–March 2025), outpacing global trade growth by 2.3% despite geopolitical disruptions. This 6.3% YoY leap, anchored by Production-Linked Incentive (PLI) schemes and market diversification, reveals a structural shift beyond traditional sectors. Here’s an evidence-based breakdown of the leaders driving this transformation:

🔧 1. Engineering Products: The $116 Billion Backbone

• Contribution: 26.7% of total merchandise exports ($116.7B in FY25)
• Growth: 6.74% YoY, with industrial machinery, EVs, and robotics dominating
• Key Markets: US, EU, ASEAN
• Trend: PLI schemes accelerated high-value manufacturing, reducing reliance on commodity exports.

 

📱 2. Electronics: Mobile Manufacturing Breaks Records

• Mobile Exports: $14.4B in FY25 (led by Apple & Samsung), making India the world’s #2 phone producer
• Computer Hardware: Exports doubled to $1.4B (FY24→FY25)
• Market Expansion: UAE, Netherlands, and Oman now key hubs.

 

💊 3. Pharmaceuticals: Generics Power Global Access

• Export Value: $30.5B in FY25 (9.4% growth), with generics supplying 60+ countries
• New Frontiers: Vaccines and oncology drugs drove 22% export growth to Africa.

 

🍌 4. Agricultural Products: Banana Boom & Rice Dominance

• Banana Exports: $377.5M in FY25 (7x growth since 2018!), overtaking grapes as #1 fruit
• Rice: $12.5B record high, capturing 40% of global trade
• Middle East Surge: Iraq bought 47% of India’s bananas (+108% YoY).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

🧴 5. Processed Foods: Ready-to-Eat Goes Global

• Export Value: $10.9B in FY24, led by:
• Ready-to-eat meals (biryani, dosa mixes) to US/Gulf
• Dehydrated onions (#1 global exporter) to Japan
• Growth Driver: Health trends and PLI for branded foods boosted SMEs.

 

🚀 6. IT Services: The Silent Growth Engine

• FY25 Performance: Services exports hit $387B (up 6% YoY)
• Beyond BPO: Cloud solutions, AI governance, and healthtech now drive 30% of deals.

 

🌍 Global Trade Outlook for 2025-26

• $1 Trillion Target: FIEO projects combined goods+services exports to reach this milestone
• Hotspots: Uzbekistan (banana imports 2x), Brazil (new EXIM Bank office), and ASEAN
• Risks: Hormuz Strait disruptions and gold/coal import volatility

 

Key Insight: India’s export renaissance is fueled by targeted policies (PLI, SEZ reforms), geographic diversification (Iraq to Uzbekistan), and value-added shifts. (from raw spices to curry pastes)

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