Trade

This page is for information purpose only. Interested exporters may contact APEDA – Agricultural & Processed Food Products Export Development Authority at apeda.gov.in


India’s overall exports (Merchandise and Services combined) in FY 2023-24 (April-March) are estimated to be US$ 776.68 Billion, exhibiting a positive growth of 0.04% over FY 2022-23 (April-March).

Overall imports in FY 2023-24 (April-March) are estimated to be US$ 854.80 Billion, exhibiting a negative growth of (-) 4.81% over FY 2022-23 (April-March). Link

India’s foreign exchange reserves stood at an all-time high of US$ 648.56 billion as of April 5. Link

Latest highlights of India’s international trade

India’s overall exports (Merchandise and Services combined) in March 2024 is estimated to be US$ 70.21 Billion, exhibiting a negative growth of (-) 3.01 % over March 2023.

Overall imports in March 2024 is estimated to be US$ 73.12 Billion, exhibiting a negative growth of (-) 6.11 % over March 2023. Link

Merchandise Trade

  • Merchandise exports in March 2024 were US$41.68 Billion, compared to US$41.96 billion in March 2023.
  • Merchandise imports in March 2024 were US$ 57.28 Billion, compared to US$ 60.92 Billion in March 2023.
  • Merchandise exports for FY 2023-24 (April-March) were US$ 437.06 Billion against US$ 451.07 Billion during FY 2022-23 (April-March).
  • Merchandise imports for FY 2023-24 (April-March) were US$ 677.24 Billion against US$ 715.97 Billion during FY 2022-23 (April-March).
  • The merchandise trade deficit for FY 2023-24 (April-March) was estimated at US$ 240.17 Billion against US$ 264.90 Billion during FY 2022-23 (April-March).

Services Trade

  • The estimated value of services export for FY 2023-24 (April-March)* is US$ 339.62 Billion compared to US$ 325.33 Billion in FY 2022-23 (April-March).
  • The estimated value of services imports for FY 2023-24 (April-March)* is US$ 177.56 Billion compared to US$ 182.05 Billion in FY 2022-23 (April-March).
  • The services trade surplus for FY 2023-24 (April-March)* is estimated at US$ 162.05 Billion against US$ 143.28 Billion in FY 2022-23 (April-March).

Foreign Trade Overview

Merchandise exports have registered highest ever annual exports of US$ 447.46 billion with 6.03% growth during FY 2022-23

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Foreign Trade Policy

The Foreign Trade Policy 2023 was implemented to facilitate ease of doing business for exporters

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Self-reliant India Programme

A self-reliant India would follow the motto of ‘Build local to go global’

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Trade Agreements

India has been constantly establishing key global partnerships

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India's Twinning Agreements

An efficient tool to bolster cultural, diplomatic and commercial ties

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Export Incentives

India has been building an ecosystem to aid sustainable export activities

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Guide to Exporting

Here’s a guide, the A to Z of how to set up an export business in India

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How IndBiz Can Help

IndBiz aims to help global traders and investors to connect with India

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FAQS

Solutions to your immediate queries related to international trade with India

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