India's Merchandise Exports Set To Cross $500 Billion This Fiscal: FIEO

The country's merchandise exports are expected to increase about $60-70 billion to $500 billion by the end of FY25, apex exporters' body FIEO said on Thursday.

In 2023-24, exports dipped over 3% to $437 billion.

Federation of Indian Export Organisations President Ashwini Kumar also said the country's services exports are also likely to reach $390-400 billion this fiscal.

"We are looking for merchandise exports between $500-510 billion in 2024-25. In the services, we expect exports to be around $390-400 billion for the current fiscal," Kumar told reporters here.

He said traditional markets like the US and Europe will help in boosting India's exports.