New Delhi: India’s total exports, including merchandise and services, clocked a robust 29.9 per cent growth in October this year compared with the same month of the previous year to touch the $89.99 billion mark, according to figures released by the Commerce Ministry on Friday.
Driven by a record merchandise export of $49.47 billion and services worth $40.51 billion, the overall trade deficit narrowed to $20.09 billion during the month.
“India has recorded its highest-ever monthly goods exports in October 2026,” Commerce Secretary Rajesh Agrawal said.
The surge in exports has taken place despite the economic uncertainty in global markets and disruption in shipping due to the continuing Middle East conflict.
Major drivers of merchandise export growth in October include petroleum products, electronic goods, gems & jewellery, chemicals and engineering goods.
The exports of petroleum products jumped by 140.21 per cent to $8.89 billion during the month from $3.7 billion in October last year while electronic goods exports surged by 62.7 per cent to $ 6.64 billion during from $ 4.08 billion.
Gems & jewellery exports increased by 40.06 per cent to $3.21 billion in October from $2.29 billion in the same month last year while organic & inorganic chemicals exports rose by 36.2 per cent to $2.89 billion.
Engineering goods exports also registered a robust growth of 36.01 per cent in October to scale the $12.74 billion mark compared to the corresponding figure of $9.37 billion in the same month of the previous year.
Total imports of merchandise and services during October are estimated at $110.07 billion, registering a positive growth of 16.58 per cent vis-a-vis the same month of the previous year.
The cumulative value of India’s merchandise exports during April-October 2026-27 has crossed $ 309 billion, as compared to $253.4 billion during the same period of the previous financial year, which represents a growth of 21.96 per cent.
The country’s total exports of goods and services during April-October 2026-27are estimated at $568.84 billion registering a robust growth of 16.66 per cent while total imports during this period are estimated at $662.19, which is 16 per cent higher than the same period of the previous financial year.
(IANS)
