India’s Exports Climb to $791B, Services Sector Powers $201B Trade Surplus
New Delhi: India’s cumulative exports (merchandise and services) during April-February 2025-26 are estimated at US$ 790.86 Billion, reflecting a 5.79% growth over the same period last year (US$ 747.58 Billion). Merchandise exports stood at US$ 402.93 Billion, up 1.84%, while non-petroleum exports rose to US$ 354.12 Billion, marking a 5.03% increase.
Key Sectoral Drivers
Major contributors to merchandise exports growth in February 2026 included:
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Engineering Goods: US$ 10.36 Bn, ↑12.90%
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Electronic Goods: US$ 4.18 Bn, ↑10.37%
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Organic & Inorganic Chemicals: US$ 2.38 Bn, ↑6.85%
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Gems & Jewellery: US$ 2.64 Bn, ↑4.08%
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Meat, Dairy & Poultry Products: US$ 0.55 Bn, ↑22.66%
Other high-growth items included Other Cereals (170.14%), Coffee (31.92%), Marine Products (13.27%), Handicrafts (10.25%), and Ceramic Products & Glassware (6.36%).
Services Trade Surges
India’s services exports during April-February 2025-26 are estimated at US$ 387.93 Billion, up 10.23%, while services imports were US$ 186.98 Billion. The services trade surplus reached US$ 200.96 Billion, compared to US$ 170.69 Billion in the previous year, reinforcing India’s growing dominance in the global services sector.
Trade Balance and Imports
Total imports for April-February 2025-26 are estimated at US$ 900.51 Billion, up 7.37% from last year. The merchandise trade deficit widened to US$ 310.60 Billion. Key imports showing negative growth in February 2026 included Project Goods (-81.31%), Cotton Raw & Waste (-59.44%), and Pulses (-38.49%).
Top Export and Import Destinations
Top export growth destinations (April-February 2025-26):
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China (37.66%)
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U.S.A (3.84%)
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U.A.E (8.52%)
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Spain (45.31%)
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Hong Kong (30.91%)
Top import growth sources (April-February 2025-26):
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China (15.21%)
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U.S.A (15.65%)
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U.A.E (10%)
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Hong Kong (25.01%)
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Peru (67%)
Monthly Snapshot – February 2026
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Total exports: US$ 76.13 Bn, ↑11.05%
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Total imports: US$ 80.09 Bn, ↑21.64%
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Trade deficit: US$ 3.96 Bn
Merchandise imports surged to US$ 63.71 Bn, while services exports contributed US$ 39.53 Bn, highlighting a robust trade performance despite a marginal trade deficit for the month.
India’s trade performance reflects strong momentum in engineering, electronics, chemicals, and agri-processed products, alongside a growing global services footprint, strengthening the country’s position as a key player in global trade.