India’s Exports Reach $568.84 Billion in April–October 2026; Export Promotion Mission Supports Growth

The news

India’s total exports were estimated at US$568.84 billion during April–October FY 2026-27, recording a year-on-year growth of 16.66%. The growth was driven by both merchandise and services exports, which rose 21.96% and 10.93%, respectively, over the same period last year. The data covers the first seven months of the current financial year and reflects sustained momentum after five consecutive years of record exports, with total exports reaching US$863.1 billion in FY 2025-26.

During April–September FY 2026-27, total exports hit a record US$479.0 billion, with merchandise exports at US$259.71 billion (up 18.4%) and services exports at US$219.27 billion (up 10.2%). October added further momentum, with total exports estimated at US$89.99 billion, registering 29.90% year-on-year growth, driven by a 45.06% surge in merchandise exports to US$49.47 billion. Seven of the ten leading export categories recorded double-digit growth, including other cereals (109.74%), petroleum products (47.71%), electronic goods (46.92%), and engineering goods (22.00%). Non-petroleum exports rose 18.01% to US$259.22 billion.

India’s export footprint also widened across markets. Eight of the ten largest merchandise export destinations recorded double-digit growth, with Singapore and Malaysia leading at 107.50% and 106.87%, respectively. During April–September, 1,985 new product-market pairs generated US$622.1 million in exports, covering 116 product groups across 229 countries and territories. Services exports, which accounted for approximately 45.7% of total exports during April–October, grew at a compound annual rate of 10.3% between 2015 and 2025, compared with 6.6% globally, raising India’s share of global services exports from 3.1% to 4.3%.

What is the Export Promotion Mission and when was it launched?

The Export Promotion Mission was announced in the Union Budget 2025-26, presented on 1 February 2025, with a total outlay of ₹25,060 crore for the period from FY 2025-26 to FY 2030-31. It is designed as a cross-departmental initiative to strengthen India's export competitiveness by providing easier access to export credit, supporting MSMEs in overcoming non-tariff barriers in overseas markets, and facilitating duty remission and logistics improvements. The mission consolidates and builds upon earlier schemes such as the Remission of Duties and Taxes on Exported Products (RoDTEP), which was implemented from 1 January 2021 to replace the earlier Merchandise Exports from India Scheme (MEIS) after a World Trade Organization dispute panel ruled MEIS inconsistent with global trade rules in 2019. The Foreign Trade Policy 2023, which provides the overarching framework for the mission, was notified under the Foreign Trade (Development and Regulation) Act, 1992, the primary legislation empowering the central government to formulate and announce the export and import policy.

What policy instruments support export growth?

The Foreign Trade Policy 2023, effective from 1 April 2023, provides the framework for export promotion. Key instruments include Advance Authorisation for duty-free import of inputs, Duty Free Import Authorisation on a post-export basis, and Export Promotion Capital Goods for zero-duty capital goods imports. The Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and Levies (RoSCTL) schemes, covering apparel and made-ups, have been extended until 31 December 2026. The Export Promotion Mission, with an outlay of ₹25,060 crore for FY 2025-26 to FY 2030-31, supports competitiveness through finance, market access, duty relief, and logistics facilitation.

How has sectoral and market diversification contributed?

India’s export growth has been broad-based, with strong gains in both industrial and agricultural products. Electronic goods exports grew 44% year-on-year to US$31.97 billion during April–September, with non-smartphone exports expanding 56.5% and components such as memory chips surging 2,332%. Agricultural staples also performed well: basmati rice exports rose 25% to US$1,601 million, and yellow dent corn surged 1,156% to US$123 million. Regional specialities reached new markets, including first shipments of organic palmyra jaggery powder from Tamil Nadu to Bulgaria and GI-tagged Tandur red gram from Telangana to Australia. The Districts as Export Hubs initiative had draft plans covering 590 districts by March 2026, of which 249 were formally adopted, aiming to connect local producers to overseas buyers.

What are the broader economic indicators?

India’s export growth complements broader economic progress. Real GDP grew 7.8% year-on-year in April–June FY 2026-27, while unemployment among people aged 15 and above declined from 5.4% in April–June to 5.1% in July–September. Net foreign direct investment inflows reached US$8.8 billion in April–September, and foreign exchange reserves stood at US$719.55 billion as of 6 November 2026. The Unified Logistics Interface Platform, which by July 2026 linked 46 systems across 12 central ministries through 142 application programming interfaces, aims to reduce logistics friction and support export competitiveness.