New Delhi: India’s exports posted a robust double-digit growth in April 2026, underscoring the resilience of the country’s external trade sector despite persistent global uncertainties. Strong performance in petroleum products, electronic goods, engineering products and pharmaceuticals pushed total exports to USD 80.8 billion, while a sharp 81.6 percent jump in gold imports emerged as a key concern for policymakers.
According to government data released on Friday, India’s combined merchandise and services exports rose 13.59 percent year-on-year to USD 80.80 billion in April 2026, compared to USD 71.13 billion in the same month last year.
Merchandise Exports Rise Nearly 14%
Merchandise exports stood at USD 43.56 billion in April 2026, registering a growth of 13.78 percent over USD 38.28 billion in April 2025.
Non-petroleum exports, often considered a better indicator of broad-based export strength, increased 9.01 percent to USD 33.97 billion, reflecting healthy demand across multiple sectors.
The export growth was largely driven by petroleum products, electronic goods, engineering goods, meat, dairy and poultry products, and drugs and pharmaceuticals.
Petroleum and Electronics Lead Export Growth
Petroleum product exports surged 34.66 percent to USD 9.59 billion in April 2026 from USD 7.12 billion a year earlier.
Electronic goods exports recorded the sharpest increase among major sectors, soaring 40.31 percent to USD 5.18 billion. The rise highlights India’s growing role as a global electronics manufacturing and export hub.
Engineering goods exports, one of India’s largest export categories, rose 8.76 percent to USD 10.35 billion.
Exports of meat, dairy and poultry products witnessed an impressive jump of 48.03 percent, while drugs and pharmaceuticals exports increased 7.12 percent to USD 2.66 billion.
Other sectors showing strong export performance included marine products, chemicals, handicrafts, carpets, coffee, leather products, iron ore and other cereals.
Services Exports Maintain Double-Digit Growth
India’s services exports were estimated at USD 37.24 billion during April 2026, up 13.36 percent from USD 32.85 billion in April 2025.
The sustained expansion in services exports continues to reinforce India’s strength in information technology, business services, consulting and financial services.
Imports Rise Moderately, Trade Deficit Narrows
India’s total imports increased 7.67 percent year-on-year to USD 88.61 billion in April 2026, compared to USD 82.29 billion in the corresponding month last year.
Despite higher imports, the country’s overall trade deficit narrowed significantly to USD 7.81 billion from USD 11.16 billion in April 2025, indicating a stronger external trade position.
On the import side, declines were recorded in chemical materials, pulses, crude petroleum products, iron and steel, and textile-related products.
Gold Imports Soar 81.6%, Raising Current Account Concerns
A major highlight—and concern—in the April trade data was the sharp surge in gold imports.
Gold imports jumped 81.6 percent year-on-year to USD 5.63 billion, driven by strong domestic demand and elevated global bullion prices.
Trade experts cautioned that sustained increases in gold imports could place pressure on India’s current account balance and potentially offset gains achieved through strong export growth, particularly amid currency volatility and global economic uncertainty.
India-US Trade Talks to Continue Next Month
Commerce Secretary Rajesh Agrawal said a high-level delegation of officials from the United States is expected to visit India next month to continue bilateral trade negotiations, although exact dates are yet to be finalised.
The discussions are expected to focus on strengthening trade ties and addressing market access issues between the two countries.
Trade with West Asia Declines Sharply
The Commerce Secretary also noted a substantial decline in trade with West Asia.
India’s exports to the region fell 28 percent to USD 4.16 billion in April 2026 from USD 5.78 billion a year earlier, while imports from West Asia dropped 31.64 percent to USD 10.47 billion from USD 15.32 billion.
Key Export Destinations Show Positive Momentum
Among India’s major export destinations, strong growth was recorded in shipments to:
- Singapore
- Bangladesh
- Hong Kong
- Sri Lanka
- Tanzania
On the import side, significant increases were seen in purchases from:
- China
- Russia
- Oman
- Peru
- Saudi Arabia
Industry Reaction: India’s Competitiveness Strengthening
Reacting to the latest trade figures, Nirmal K. Minda said the 13.6 percent rise in exports reflects the resilience and growing global competitiveness of the Indian economy despite ongoing international uncertainties.
He credited the government’s proactive policy measures—including trade facilitation, logistics improvements, infrastructure development and sector-specific export promotion initiatives—for sustaining export momentum and enhancing India’s standing in global markets.
