India has reported steady growth in high-tech goods and digital services exports despite global volatility, according to NITI Aayog’s latest quarterly report. Merchandise exports increased by 3% year on year, hitting $108.7 billion during October to December 2024.
Aircraft, spacecraft, and component sales climbed by more than 200%, led by rising demand from Saudi Arabia, the UAE, and the Czech Republic. High-tech merchandise exports have been strong since 2014, led by electrical machinery and armaments, with a CAGR of 10.6%.
The services sector saw a 17% growth in exports to $102.6 billion, while imports grew to $52.4 billion, resulting in a $52.3 billion trade surplus. Exports of digitally delivered services increased to $269 billion by 2024, driven by IT services and professional consulting, cementing India’s status as a worldwide digital trade hub. North America and the European Union accounted for 40% of total exports. Imports rose 6.5% to $187.5 billion, widening the merchandise trade deficit.
The report examined the changing US tariff regime since April 2025 and its implications for India. India is well-positioned to increase its market share in the US, which remains its top export destination.
