Exports may surge 12-15% to cross $500 billion this fiscal: FIEO

The country's merchandise exports are expected to increase about $ 60-70 billion to $ 500 billion by the end of FY25, apex exporters' body FIEO said on Thursday.

In 2023-24, exports dipped over 3 per cent to $ 437 billion.

Federation of Indian Export Organisations (FIEO) President Ashwini Kumar also said the country's services exports are also likely to reach $ 390-400 billion this fiscal.

"We are looking for merchandise exports between $ 500-510 billion in 2024-25. In the services, we expect exports to be around $ 390-400 billion for the current fiscal," Kumar told reporters here.

He said traditional markets like the US and Europe will help in boosting India's exports.