India’s Service Exports Cross $348 Billion (Apr–Jan)

Current Context: On 14 March 2026, the Ministry of Commerce & Industry (Department of Commerce) released the Cumulative Exports Report (April–January FY 2025‑26).

• The report showed that India’s service exports crossed US$ 348 billion during the April–January period.
• It also highlighted merchandise exports worth US$ 366.63 billion, reflecting a 2.2% growth over last year.
• Together, total exports (goods + services) reached US$ 720.76 billion, marking a 6.15% increase compared to FY 2024‑25.
• Key drivers included IT & ITES, business services, travel, transport, and financial services.
• The report emphasized India’s growing role as a global services hub, boosting foreign exchange reserves.
• It supports the government’s long‑term vision of achieving US$ 2 trillion exports by 2030.

Question:

Q.1 According to the Cumulative Exports Report, what was the overall growth rate of total exports compared to FY 2024–25?
a) 4.5%
b) 5.2%
c) 6.20%
d) 6.15%

Answer: d) Together, total exports (goods + services) reached US$ 720.76 billion, marking a 6.15% increase compared to FY 2024‑25.