Home / Business and Economy / India's Exports Skyrocket 45% to Record Highs
India's Exports Skyrocket 45% to Record Highs
14 Nov
Summary
- Goods exports reached $49.47 billion in October, a 45.06% year-on-year increase.
- Trade deficit widened significantly to $39.88 billion due to rising imports.
- Petroleum and electronics sectors were key drivers of export growth.
India achieved its highest-ever monthly goods exports in October 2026, with a remarkable 45.06% surge to $49.47 billion compared to the previous year. This broad-based growth, spanning across numerous sectors and destinations, was significantly boosted by petroleum products, electronics, engineering goods, and gems and jewellery.
Despite the export success, the trade deficit expanded to $39.88 billion, a one-year high, driven by a 16.5% increase in imports, particularly for oil and electronic components. While gold imports saw a sequential spike, they decreased significantly year-on-year.
Overall exports, including services, rose to $89.9 billion in October. Cumulative exports from April to October 2026 reached $568.84 billion, reflecting a 16.6% increase. Officials expressed optimism for sustained growth, aiming for $1 trillion in exports.
