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- According to the Reserve Bank of India, India’s total exports—comprising both merchandise and services—reached a record $824.9 billion in 2024–25, marking a 6.01% increase from $778.1 billion in 2023–24. This growth comes despite global economic challenges such as the Red Sea crisis, the ongoing war in Ukraine, Panama Canal droughts, rising energy prices, and the proliferation of non-tariff barriers.
- Merchandise exports remained steady, inching up to $437.4 billion from $437.1 billion the previous year. Meanwhile, services exports surged by 13.6% to an all-time high of $387.5 billion.
- Key factors behind this resilience include government initiatives like the New Foreign Trade Policy, export promotion schemes, and support for MSMEs. India's efforts to diversify export markets—particularly in Southeast Asia, Africa, and Latin America—also played a role. Additionally, trade agreements such as the India-UAE CEPA and global supply chain shifts have positioned India as a trusted export hub.
- The Ministry of Tourism and Culture has set an ambitious goal to position at least 10 Indian cities among the world’s leading Meetings, Incentives, Conferences, and Exhibitions (MICE) destinations.
- India’s Rise as a MICE Hub
- India is rapidly becoming a major player in the global MICE industry, which generated USD 49.4 billion in 2024 and is projected to grow to USD 103.6 billion by 2030, reflecting a 13% compound annual growth rate (CAGR).
- Key drivers behind this growth include India’s strong economic performance, the development of world-class infrastructure such as roads and railways, and government initiatives that have supported the creation of state-of-the-art convention facilities like Bharat Mandapam and the Jio World Centre.
- In response to the Pahalgam terror attack and ongoing tensions between India and Pakistan, Indian security forces have launched Operation Shiva to ensure the safety of pilgrims during the Amarnath Yatra.
- About Shri Amarnath Ji:
- Located in Anantnag district at an altitude of 13,000 feet, the Amarnath Cave is home to the ice lingam, a revered phallic symbol of Lord Shiva. Two smaller ice formations represent his wife, Parvati, and his son, Ganesha. The pilgrimage takes place during the month of Shravan, when the lingam reaches its full size. The origin of the pilgrimage is detailed in the ancient Sanskrit text, Bringesha Samhita.