India’s merchandise exports reached a record $129.6 billion in the first quarter of FY2026-27, marking the country’s strongest-ever quarterly performance and underscoring the resilience of its external sector.
Exports during April-June 2026 rose 16.1% from $111.6 billion in the corresponding quarter of FY26, according to Minister of State for Commerce and Industry Jitin Prasada, who shared the figures in a written reply in the Lok Sabha.
The record export performance comes despite continuing global trade uncertainties and fluctuations in India’s merchandise trade deficit. The government said the latest figures reflect growing competitiveness of Indian products and continued integration with global value chains.
India’s merchandise trade deficit stood at $30.4 billion in June 2026, a five-month high. However, the government noted that the figure remained broadly close to the 12-month average deficit of $29.3 billion.
The government said higher imports were largely driven by essential and productive goods needed for economic growth and industrial expansion. Petroleum products remain a major component of India’s import bill, while machinery, capital goods, electronics, gold, precious stones, fertilisers and other industrial inputs also account for significant import demand.
India had already recorded $863.1 billion in total exports in FY2025-26, comprising $441.8 billion in merchandise exports and $421.3 billion in services exports. The strong start to FY27 indicates that the country’s export momentum has continued into the new financial year.
The government is pursuing measures to improve export competitiveness, expand market access, strengthen domestic manufacturing and reduce dependence on critical imports. These efforts are aimed at integrating Indian producers more deeply into global supply chains.
The record quarterly performance provides a positive start to FY27, although global demand conditions, commodity prices, geopolitical developments and trade policies in major markets will remain important factors influencing India’s export growth in the coming months.
