India’s Exports Register Double-Digit Growth (15.5%) in November 2025 (Y-o-Y), Trade Deficit Narrows: PHDCCI
India’s total exports recorded a robust double-digit growth of 15.5% (year on year) in November 2025, driven by strong performance in both merchandise and services sectors, leading to a significant reduction in the trade deficit, said Mr. Rajeev Juneja, President, PHDCCI, in a press statement issued today.
Merchandise exports surged 19.4% year-on-year, rising from USD 31.94 billion in November 2024 to USD 38.13 billion in November 2025. Similarly, services exports grew 11.68%, increasing from USD 32.11 billion to USD 35.86 billion over the same period, he said.
Mr. Juneja highlighted that the key drivers of merchandise export growth in November 2025 included iron ore (70%), cashew (57%), oil meals (40%), electronic goods (38%), and coffee (34%), among others. Despite global headwinds, India registered positive export growth with 14 out of its 20 major trading partners, reflecting increasing diversification and resilience in external trade.
Looking ahead, Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI, said that India’s exports are expected to continue on a resilient growth trajectory, supported by sustained government efforts to diversify export markets and enhance global competitiveness. He noted that the government’s Export Promotion Mission (EPM) and deeper engagement across regions including the US, EU, Gulf Cooperation Council (GCC), and Asia-Pacific will play a pivotal role in propelling India’s export growth.
