India’s GST collection in April 2025 hit a record ₹2.37 lakh crore, up 12.6% from last year.
Net GST revenue after refunds was ₹2.09 lakh crore, a 9.1% rise year-on-year.
Higher collections are due to better compliance, faster refunds, and fintech adoption (India’s rate: 87%).
GST collections have more than doubled from ₹1.03 lakh crore in April 2018 to ₹2.37 lakh crore in April 2025.
Refunds to exporters rose by 86%, and GST from imports increased by 20.8%.
HSBC India Manufacturing PMI rose to 58.2 in April, showing strong export demand.
April saw the highest rise in overseas orders in 14+ years, led by demand from Africa, Asia, Europe, West Asia, and the Americas.
U.S. tariff pause until July 9 led to a rush in export orders
India is benefiting from a global supply chain shift away from China.
Apple plans to source most U.S. iPhones from India, boosting manufacturing.
India’s manufacturing growth was low at 4% last year; long-term improvement needs stronger domestic demand and better trade deals.
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