India's Trade with G7 Nations Sees Robust Growth, Hits $248 Billion in FY25
Over time, these G7 countries—except Canada—have emerged among India's top 30 trade destinations
New Delhi: India has experienced healthy and growing trade relations with G7 nations, outlining deepening economic engagement and cooperation, according to a report by data science company Rubix.
G7 nations, or the Group of Seven (G7), is an intergovernmental political and economic forum consisting of the US, UK, Germany, France, Italy, Canada, and Japan. Over time, these G7 countries—except Canada—have emerged among India's top 30 trade destinations, contributing to a stable and diversified export-import relationship.
On the exports side, India's cumulative exports to G7 countries stood at USD 138 billion in FY25, reflecting a 13% compound annual growth rate (CAGR) between FY21 and FY25. Imports from G7 nations reached USD 110 billion during the same period, showing a 12% CAGR.
Total trade (exports plus imports) with G7 countries stood at USD 248 billion in FY25, marking a 13% CAGR growth over FY21-FY25.
"India had a trade surplus (exports minus imports) of USD 28 billion in FY25 at an aggregate level with G7 countries, and this surplus recorded a 16% CAGR between FY21 and FY25. India enjoys a trade surplus with four of the G7 countries—namely the US, Italy, France, and the UK," the report revealed.
The share of goods exports to G7 nations increased from 29% in FY20 to 31% in FY25, while the share of imports from G7 countries declined from 18% in FY20 to 15% in FY25.
Sector-wise, telecom transmission equipment—including mobile phones—and pharmaceuticals are among the most frequently exported products from India to G7 countries. These two sectors play a significant role in India’s trade basket, with their shares ranging from 5% to 16% and 7% to 12%, respectively.
Additionally, India’s pharmaceutical sector is a key supplier to G7 countries, meeting over 50% of global vaccine needs, 40% of generic drug demand in the US, and 25% of total medicine consumption in the UK.
India's total mobile phone exports registered a 55% rise compared to the previous year, reaching USD 24 billion in FY25. Smartphones have emerged as the most exported product to several G7 nations.