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India's exports may rise 12-15% to cross USD 500 bn this fiscal: FIEO

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

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

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

"We are looking for merchandise exports between USD 500-510 billion in 2024-25. In the services, we expect exports to be around USD 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.

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