Highlights of the Indian insurance market's 2024–2025 performance

The insurance market in India grew significantly in FY2024–2025, issuing 41.84 crore policies, collecting ₹11.93 lakh crore in total premiums, and managing ₹74.44 lakh crore in assets. By focusing on "Insurance for All" by 2047, the industry increased insurance penetration to 3.7%, expanded its reach into rural areas, and digitized procedures.

Key Performance Highlights (FY 2024-25)

Market Growth and Size: The insurance market in India is the tenth largest in the world. With 41.84 crore policies issued, the total premium volume was ₹11.93 lakh crore (about USD 140+ billion).

Assets Under Management (AUM): Strong financial buildup is indicated by the total AUM of ₹74.44 lakh crore.

Claims Paid: A total of ₹8.36 lakh crore in claims were paid, demonstrating the high level of customer confidence and payouts.

Density and Penetration: The total insurance penetration is 3.7% (2.7% Life, 1% Non-Life). The insurance density rose slightly to USD 97.0.

Key Growth Drivers:

• Reinsurance: The market for reinsurance was worth ₹1.12 lakh crore.
• Health Insurance: The industry grew quickly, with premiums totaling more over ₹1.2 lakh crore.
• Distribution Network: From about 48 lakh in FY21, intermediary expansion reached over 83 lakh network partners.
• Regulatory and Technological Focus: IRDAI gave priority to the "Use and File" process for quicker product introductions and "Bima Sugam" (a digital marketplace) for insurance. To improve transparency, mandatory Customer Information Sheets (CIS) were implemented.

• Social Security Initiatives: Excellent results in government programs such as the Pradhan Mantri Jeevan Jyoti Bima Yojana.

Sector Trends

• 100% FDI: Under the revised insurance laws, the industry has made progress toward permitting 100% FDI.
• Digital Transformation: AI and robotic process automation (RPA) are now widely used in customer support and claims processing.
• Grievances: The general and health insurance industry had a nearly 45% increase in customer complaints, which prompted more regulatory attention.

India's exports rose 4.22% to $860.09 billion in FY26; imports grow faster, worsening the trade deficit.

India's exports reached by 4.22 percent to USD 860.09 billion in the fiscal year 2025–2026, while imports increased at a faster rate of 6.47 percent to over USD 970 billion, exacerbating the country's total trade deficit, according to data given by Commerce Secretary Rajesh Agrawal.

From USD 825.26 billion in 2024–2025 to USD 860.09 billion in 2025–2026, the data indicates that overall exports rose. In the meantime, imports increased to over USD 970 billion from USD 919.92 billion in the preceding fiscal year.

As a result, compared to USD 94.66 billion in 2024–25, the total trade imbalance (merchandise and services combined) increased to USD 119.30 billion in 2025–26.

From USD 437.70 billion to USD 441.78 billion, merchandise exports showed a slight increase. However, due to increased inbound shipments, merchandise imports increased more dramatically to USD 774.98 billion from USD 721.20 billion.

Services exports, which increased to USD 418.31 billion in 2025–2026 from USD 387.55 billion in 2024–2025, continued to be a significant component of India's foreign trade. Additionally, imports of services rose marginally from USD 198.72 billion to USD 204.42 billion.

Excluding for petroleum, jewelry, and jewels, trade remained largely balanced. In this area, imports increased to USD 702.98 billion from USD 653.31 billion, while exports jumped to USD 777.98 billion from USD 732.05 billion. The trade surplus, however, decreased somewhat from USD 78.74 billion to USD 75.00 billion, a decrease of USD 3.74 billion.

Imported gold witnessed a decrease in quantity but an increase in value among important commodities. While the amount decreased from 757.09 tonnes to 721.03 tonnes, the value of gold imports rose from USD 58.01 billion in 2024–2025 to USD 71.98 billion in 2025–2026. The unit value increased from USD 76,617.48 per kg to USD 99,825.38 per kg, indicating that the increase was primarily caused by higher pricing.

On the other hand, imports of silver saw a significant rise in both volume and value. The quantity increased from 5,164.37 tonnes to 7,334.96 tonnes, while the value increased from USD 4.83 billion to USD 12.05 billion. Additionally, the unit value rose dramatically, from USD 934.72 to USD 1,642.93 per kilogram.

India's Electric Vehicle reaches new milestone

India's EV sector reached a new high in FY2026, with sales increasing by 83.63% to approximately 2.45 million total units, owing to electric two-wheeler supremacy (more than 1.3 million) and an increase in electric passenger car sales. The market is supported by a 17% YoY growth in registrations to 19.7 lakh in FY 2024-25, as well as the ₹10,900 crore PM E-DRIVE initiative.

Key milestones and market data (as of April 2026):

• More than 2.36 million EVs were sold in 2025, a 16% increase over 2024, with some reports citing up to 2.45 million in FY2026, representing a more than 6% adoption rate.
• Two-Wheeler Electric scooter registrations surpassed 13 lakh by 2025.
• Charging infrastructure is apidly expanding, with over 27,000 public charging stations expected by the end of 2025.
• The PM E-DRIVE initiative subsidies, increasing awareness, and rising gasoline prices are all important reasons.
• Ola Electric, Ather Energy, and TVS Motor are the leaders in two-wheelers, while Tata Motors dominates electric passenger vehicles.
• India desires for 30% EV penetration by 2030, with a long-term objective of 100% adoption.

Digital Transformation of India's Agricultural Trade

By March 2026, 1,656 mandis will have been integrated across 23 states and four union territories.

By March 2026, the eNAM platform had registered more than 1.80 crore farmers, 2.73 lakh dealers, and 4,724 Farmer-Producer Organizations.

Between 2016 and March 2026, commerce totaled 13.25 crore metric tonnes, valued at ₹4.84 lakh crore.

The trade value reached from ₹3.19 lakh crore in 2024 to ₹4.84 lakh crore in 2026, showing increasing scale and deeper market activity.

By March 2026, 204.76 lakh metric tonnes of agricultural produce had been sold in recent periods, indicating a steady operational pace.

The e-NAM app provides mobile price information for 247 commodities.

India's coffee exports reached a record high of $2.13 billion in 2025-26 fiscal.

 

India's coffee exports increased 17% to a record $2.136 billion in the fiscal year ending March 2026, up from $1.82 billion in 2025. According to the latest Coffee Board data, export volumes grew by 4.65% to 4.07 lakh tonnes in FY26, up from 3.88 lakh tons in 2024-25. Exports increased by 22.47 percent, reaching ₹18,887 crore from ₹15,421 crore.

Strengthening India's Fisheries Sector Institutions, Investment, and Inclusion

The Union Budget 2026-27 projected a record-breaking total yearly budgetary support of ₹2,761.80 crore.

PMMSY is a key driver of fisheries development, with a ₹2,500 crore grant for 2026-27.

KCC benefits have reached 4.39 lakh fishers, improving access to institutional financing.

Insurance coverage has been expanded to 3.3 million beneficiaries, improving social security.

Livelihood support has helped about 7.44 lakh fisher families, supporting inclusive growth.

Fish production will reach 197.75 lakh tonnes in FY 2024-25, up from 95.79 lakh tonnes in FY 2013-14, representing a strong 106% rise.