India April-July Exports Grow 13.16% to $316.42 Billion

India's April-July 2026-27 Trade Performance

India's Ministry of Commerce & Industry reported significant growth in both exports and imports for the April-July 2026-27 period. The cumulative exports (merchandise and services combined) reached US$ 316.42 billion, representing a 13.16% increase compared to US$ 279.63 billion in the same period of 2025-26. Total imports grew even faster at 17.28% to US$ 365.85 billion from US$ 311.94 billion, resulting in a widened trade deficit of US$ 49.43 billion compared to US$ 32.32 billion in the previous year.

Merchandise Trade Details

Merchandise exports showed robust performance with US$ 173.78 billion during April-July 2026-27, up 17.04% from US$ 148.48 billion in the corresponding period last year. Merchandise imports reached US$ 292.38 billion, a 19.27% increase from US$ 245.14 billion, creating a merchandise trade deficit of US$ 118.60 billion compared to US$ 96.66 billion in April-July 2025-26.

Non-petroleum exports stood at US$ 143.61 billion, growing 12.79% from US$ 127.32 billion. When excluding both petroleum and gems & jewellery, exports were US$ 134.02 billion compared to US$ 118.27 billion in the previous year. Similarly, non-petroleum imports were US$ 213.46 billion (up from US$ 180.33 billion), while non-petroleum and non-gems & jewellery imports reached US$ 192.03 billion (from US$ 160.95 billion).

July 2026 Monthly Performance

For July 2026 specifically, total exports were estimated at US$ 80.14 billion, showing 13.31% growth from July 2025's US$ 70.72 billion. Total imports reached US$ 95.16 billion, up 15.83% from US$ 82.16 billion, resulting in a monthly trade deficit of US$ 15.03 billion compared to US$ 11.43 billion in July 2025.

Merchandise exports in July 2026 were US$ 44.24 billion (up from US$ 36.98 billion), while merchandise imports were US$ 76.22 billion (up from US$ 64.86 billion). Non-petroleum exports for the month were US$ 37.32 billion, and non-petroleum and non-gems & jewellery exports were US$ 35.00 billion.

Sector-Specific Export Performance

Several commodity groups showed exceptional growth in July 2026 compared to July 2025. Petroleum Products exports surged 67.64% from US$ 4.13 billion to US$ 6.92 billion. Electronic Goods exports grew 57.40% from US$ 3.76 billion to US$ 5.92 billion. Engineering Goods exports increased 17.71% from US$ 10.40 billion to US$ 12.24 billion. Other significant growers included Organic & Inorganic Chemicals (14.39% to US$ 2.80 billion) and Cotton Yarn/Fabrics/Made-ups (8.40% to US$ 1.11 billion).

Services Trade

Services exports for April-July 2026-27 were estimated at US$ 142.64 billion, showing 6.38% growth from US$ 131.15 billion in the previous year. Services imports reached US$ 73.47 billion compared to US$ 66.81 billion. This resulted in a services trade surplus of US$ 69.17 billion, slightly higher than the US$ 64.35 billion surplus in April-July 2025-26.

For July 2026 alone, services exports were estimated at US$ 35.89 billion (from US$ 33.74 billion), while services imports were US$ 18.94 billion (from US$ 17.30 billion).

Trade Partner Analysis

The data reveals shifting trade patterns with key partners. For July 2026, the top export destinations showing positive growth were Kenya (151.41%), Singapore (83.7%), Malaysia (73.03%), China (64.57%), and USA (12.85%). For imports, the top sources showing growth were Oman (150.36%), Taiwan (111.3%), Russia (83.85%), China (34.42%), and USA (18.11%).

For the April-July period, export growth was led by Singapore (97.11%), Tanzania (131.2%), Sri Lanka (111.76%), South Africa (69.75%), and China (35.97%). Import growth came primarily from Oman (200.68%), Brazil (166.84%), Russia (59.65%), USA (22.42%), and China (29.68%).