India’s combined exports rise 6.15% to $720.76 billion in April–January

India’s cumulative exports of merchandise and services during April–January 2025–26 are estimated at $720.76 billion, marking a 6.15% increase over $679.02 billion recorded in the same period of 2024–25, according to the official data. On the import front, total inbound shipments during the 10-month period stood at $823.41 billion, up 6.54% year-on-year. The figures indicate steady external trade growth despite a challenging global environment. 

Total Trade during April-January 2025-26

Merchandise trade shows moderate growth 

Merchandise exports during April–January 2025–26 rose 2.20% to $366.63 billion, compared with $358.75 billion in the same period last year. Merchandise imports during the period rose to $649.86 billion from $606.13 billion a year ago. As a result, the merchandise trade deficit widened to $283.23 billion in April–January 2025–26, compared with $247.38 billion in the corresponding period of the previous fiscal. 

Merchandise Trade during January 2026

For January 2026 alone, merchandise exports stood at $36.56 billion, marginally higher than $36.34 billion in January 2025. 

Non-petroleum exports gain momentum 

Cumulative non-petroleum exports during April–January 2025–26 were valued at $320.94 billion, reflecting a 4.89% increase from $305.98 billion in the year-ago period. 

Non-petroleum and non-gems & jewellery exports in January 2026 came in at $30.47 billion, compared to $29.86 billion in January 2025. For the April–January period, such exports rose to $297.41 billion from $281.59 billion a year earlier. 

On the import front, non-petroleum, non-gems & jewellery imports in January 2026 stood at $42.56 billion, up from $41.53 billion in January 2025. During April–January 2025–26, these imports increased to $414.52 billion compared to $381.21 billion in the previous year. 

January sees stronger overall trade growth 

India’s total exports, including merchandise and services, for January 2026 are estimated at $80.45 billion, registering a robust 13.17% growth over January 2025. Total imports for the month rose 18.76% to $90.83 billion. 

Engineering goods, iron ore lead export growth 

Several sectors drove merchandise export growth in January 2026. Engineering goods exports rose 10.37% to $10.40 billion from $9.42 billion in January 2025. 

Petroleum products exports increased 8.55% to $3.77 billion, while exports of meat, dairy and poultry products climbed 17.92% to $0.61 billion. 

Marine products exports grew 13.29% to $0.61 billion, and iron ore exports recorded the sharpest rise of 31.54%, increasing to $0.21 billion from $0.16 billion a year earlier. 

The latest trade figures suggest that while export growth remains steady, rising imports continue to exert pressure on the merchandise trade balance. The performance of engineering goods and select commodity segments, however, indicates resilient demand in key global markets.