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India's exports scaled a fresh peak in FY 2025-26, with combined merchandise and services shipments crossing the $860 billion mark for the first time, underscoring sustained momentum and a stronger foothold in global trade.
According to the Ministry of Commerce and Industry's latest data, cumulative exports of merchandise and services stood at US$ 860.09 billion during April-March FY26, compared to US$ 825.26 billion in FY25, reflecting a 4.22% year-on-year increase and setting a new record. Merchandise exports, while growing at a slower pace, still registered an uptick. Outbound shipments of goods reached US$ 441.78 billion in FY26, up from US$ 437.70 billion in the previous fiscal, marking a 0.93% rise. The fiscal year closed on a high, with March 2026 recording merchandise exports of US$ 38.92 billion, the highest monthly figure of the year. The end-of-year acceleration was driven by a mix of core industrial sectors and resource-based exports. Petroleum products remained a key contributor, supported by steady global demand and India's robust refining capacity. Engineering goods also played a crucial role, reflecting sustained demand for machinery, automobile components, and industrial equipment. "Major drivers of merchandise export growth in March 2026 include Petroleum Products, Engineering Goods, Mica, Coal & Other Ores, Minerals including processed minerals, Other cereals and Handicrafts excl. handmade carpet," the Ministry posted on X. These sectors "continue to contribute significantly to India's export expansion and sectoral strength." Notably, the minerals segment posted strong gains. Exports of mica, coal, and other ores, along with processed minerals, rose 11.27% to US$ 0.58 billion in March 2026 from US$ 0.52 billion a year earlier, indicating continued traction and increased value addition within the sector. In addition, exports of other cereals and handicrafts (excluding handmade carpets) contributed to the growth momentum, highlighting the resilience of agriculture-linked and artisanal segments alongside industrial exports. While services exports were the primary driver behind the overall record, merchandise trade managed to sustain positive growth despite global uncertainties. The March surge signals improved supply chain activity and stronger order flows toward the close of the fiscal year, with petroleum and engineering goods providing scale, and minerals, cereals, and handicrafts adding diversification to India's export basket. (ANI)
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