India's Exports Surge 13% in January 2026, Cumulative Exports Cross $720 Billion
New Delhi, 16 February 2026: India’s total exports (merchandise and services combined) during April-January 2025-26 are estimated at US$ 720.76 Billion, up 6.15% from US$ 679.02 Billion in the same period last year. Imports during the same period rose to US$ 823.41 Billion, registering a growth of 6.54%, leaving a trade deficit of US$ 102.65 Billion.
Merchandise Exports
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Merchandise exports reached US$ 366.63 Billion, growing 2.20% from US$ 358.75 Billion in April-January 2024-25.
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Non-petroleum exports were US$ 320.94 Billion, a rise of 4.89%.
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Top-performing sectors in January 2026 included:
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Engineering Goods: US$ 10.40 Billion (+10.37%)
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Petroleum Products: US$ 3.77 Billion (+8.55%)
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Meat, Dairy & Poultry Products: US$ 0.61 Billion (+17.92%)
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Marine Products: US$ 0.61 Billion (+13.29%)
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Iron Ore: US$ 0.21 Billion (+31.54%)
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Services Trade
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Services exports for January 2026 are estimated at US$ 43.90 Billion, a 26.38% increase over January 2025, while imports were US$ 19.60 Billion.
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The services trade surplus during April-January 2025-26 stands at US$ 180.58 Billion, up from US$ 153.56 Billion last year.
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Major drivers include IT services, business services, and financial services.
Total Trade in January 2026
| Component | January 2026 (US$ Bn) | January 2025 (US$ Bn) | Growth |
|---|---|---|---|
| Merchandise Exports | 36.56 | 36.34 | 0.61% |
| Merchandise Imports | 71.24 | 59.77 | 19.24% |
| Services Exports* | 43.90 | 34.75 | 26.38% |
| Services Imports* | 19.60 | 16.71 | 17.33% |
| Total Exports | 80.45 | 71.09 | 13.17% |
| Total Imports | 90.83 | 76.48 | 18.76% |
| Trade Balance | -10.38 | -5.39 | — |
*Note: January 2026 services data is an RBI-based estimate.
Top Commodities (Exports, Jan 2026)
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Other Cereals: +88.49%
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Coffee: +36.03%
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Iron Ore: +31.54%
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Meat, Dairy & Poultry Products: +17.92%
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Marine Products: +13.29%
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Engineering Goods: +10.37%
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Petroleum Products: +8.55%
Top Countries (Exports, Jan 2026)
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UAE: +29.27%
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China: +55.65%
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Hong Kong: +98.72%
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Netherlands: +20.47%
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Italy: +32.10%
Top Countries (Imports, Jan 2026)
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Switzerland: +836.85%
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UAE: +48.38%
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China: +16.67%
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USA: +23.71%
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UK: +75.38%
Key Insights
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India’s exports are gradually rising, led by engineering goods, marine products, and Iron Ore, while imports of pulses, coal, and iron & steel fell compared to last year.
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Services continue to be a strong growth driver, supporting the overall trade balance.