New Delhi: India’s total exports of merchandise and services increased by 4.6 per cent to a record high of $863.11 billion during the financial year 2025-26, compared with the corresponding figure of $825.26 billion for the previous fiscal year, despite the US tariff turmoil and uncertainties triggered by geopolitical tensions, the latest figures compiled by the Commerce Ministry showed.
Merchandise exports registered a 0.93 per cent growth to $441.78 billion during the financial year, up from $437.70 billion in 2024-25 in a difficult year marked by disruptions in ship movements and demand uncertainties in foreign markets.
Services exports recorded a robust 8.71 per cent growth to scale a lifetime high of $421.32 billion in 2025-26, up from $387.55 billion in the previous financial year, reflecting the sustained global demand for India’s IT services, business solutions, and professional expertise.
Meanwhile, overall exports increased by over 20 per cent year-on-year for the first three weeks of April compared to the same period of the previous year, despite the supply chain disruptions and uncertainties in global markets caused by the Middle East conflict, according to a statement issued by the Ministry of Commerce and Industry on April 30.
The major products for which the exports have significantly increased during the period from April 1 to 21 are petroleum products and electronic goods, the statement said.
Petroleum products such as diesel and jet fuel are exported from the coastal refineries in India and appear to have found an increased demand due to the disruption caused by the closure of the Strait of Hormuz through which the Gulf countries export a major chunk of their exports. The disruption in supply has triggered a rise in prices of both crude oil and petroleum products in global markets.
India has emerged as a major exporter of electronics goods with companies such as tech giant Apple setting up manufacturing facilities in the country.
Commerce and Industry Minister Piyush Goyal also said that “there is an increase in exports during the first three weeks of April. Despite the war in West Asia, there is tremendous enthusiasm among domestic exporters”.
He also said that free trade agreements finalised by India would give a huge boost to the domestic industry. On exports to West Asia, he said the consignments are going through different routes because the Strait of Hormuz is “still a challenge”.
(IANS)
