India's exports increased 29.9% year-on-year to an estimated $89.99 billion in October 2026, supported by a sharp rise in merchandise shipments, according to data released by the Ministry of Commerce and Industry. The growth in outbound shipments helped narrow India's overall trade deficit to $20.09 billion in October, down from $25.15 billion in the corresponding month last year. Total imports, however, increased to $110.07 billion from $94.42 billion over the same period.
Key Highlights:
- India's overall exports rose 29.9% to $89.99 billion in October 2026, led by a 45.06% increase in merchandise shipments.
- The overall trade deficit narrowed to $20.09 billion from $25.15 billion a year earlier, as exports strengthened across key markets.
Merchandise exports grew 45.06% during the month to $49.47 billion, compared with $34.11 billion in October 2025. In rupee terms, merchandise exports rose 56.69% to Rs 4.73 lakh crore, while total exports were estimated to have increased 40.31% to Rs 8.59 lakh crore.
India's Exports Record Growth Across Major Markets
India's export performance strengthened across several international markets in October, with shipments increasing in 43 of the country's top 50 export destinations.
Exports to Spain surged 352% during the month. Over 100% increases in shipments were seen for Malaysia, Togo, Singapore and Egypt. Exports to Kenya, United Kingdom and Taiwan grew by more than 50%.
Exports to China increased 48%, to Japan 45% and to the United States 39% among the major economies.
Trade with west Asia continued to remain positive. India exported 3.98% more in October compared to the previous year, and imported 1% more.
India's Exports to Africa and Asia Expand in FY27
India's exports grew across the board in the regional trade data for April to September FY27.
Exports to Africa grew by 44%, to $31.4 billion, and exports to Asia grew by 21%, to $103.8 billion. Trade with America rose 13% to $66.8 billion and with Europe rose 8% to $51 billion.
There was also growth in exports to the Commonwealth of Independent States (CIS) and the Baltics, with exports increasing 7% to $3.4 billion during the period.
The growth across these markets suggests that India's exports during the first half of FY27 were not geared towards a singular market or region.
Also Read: India's Exports to BRICS Markets Surge 34% in April-August
Free Trade Agreements Support India's Export Growth
The goods exports to partner countries under the Free Trade Agreement (FTA) with India experienced robust growth during the first half of FY27 over the same period in FY26.
The value of exports to Singapore grew by 103% to $11.07 billion and to Association of Southeast Asian Nations (ASEAN) countries by 58% to $28.06 billion.
India's trade performance for the first half of the financial year benefited from an increase in trade with these partners.
India's Exports Rise 16.66% During April-October 2026
India's cumulative exports are estimated to have grown 16.66% during April-October 2026. Total exports in first half of FY27 increased by 14.47% from the previous financial year, to reach $478 billion.
The ministry of commerce and industry also updated the figure of services export to $39.31 billion, which is approximately $3 billion more than the earlier estimate.
Growth was, however, uneven for exports of ready-made garments as all those declined during April to October.
The October data has been boosted by higher merchandise shipments and better performance in certain overseas markets. The reduction in the trade deficit also suggests that the value of exports grew faster than imports in the month.
