Blitz Bureau
NEW DELHI: India’s services exports reached $102 billion, marking a 14 per cent increase year-on-year (YoY), according to a report from think tank Niti Aayog. The services imports also followed suit and totalled $48 billion, up 4.2 per cent, the report added. The country’s total trade for fiscal 2025 reached $1.73 trillion, comprising exports of $823 billion and imports of $908 billion.
Mineral fuel, electrical machinery and nuclear reactors were major export categories, with electrical machinery increasing by 38.2 per cent. The top import items included mineral fuels, electrical machinery, pearls, and nuclear reactors. Inorganic chemicals saw an 82.1 per cent increase, while nuclear reactor imports rose by 18.1 per cent, the report said.
In Q4 FY25, India’s exports to the UAE, Netherlands, UK, China, and Singapore dipped, while exports to the USA have seen a y-o-y growth of 27 per cent. During the quarter, imports from China, Russia, UAE, USA, Iraq, Saudi Arabia, and Singapore rose. The import inflow was led by gold from the UAE and electronics from China. Meanwhile, earlier in the day, the data compiled by S&P Global said that India’s services sector activity remained steady in September, with the HSBC India Services Purchasing Managers’ Index (PMI) standing at 60.9. Pranjul Bhandari, Chief India Economist at HSBC, said business activity in the services sector remained strong even though it was slightly lower than the recent high seen in August. “Most trackers moderated, but nothing in the survey suggested there is a big loss in growth momentum in services,” she said.
