India’s merchandise exports surge 23% to $44.40 billion in September: FIEO
In a release, FIEO President S.C. Ralhan said the export performance reflected the resilience and competitiveness of Indian exporters amid global tariff uncertainties, geopolitical tensions and logistics challenges.
Merchandise imports rose 8 per cent to $74.61 billion in September, leaving a trade deficit of $30.21 billion.
During April-September, merchandise exports increased from $219.30 billion in the corresponding period of the previous financial year, supported by shipments of electronic goods, engineering goods, petroleum products, chemicals and agricultural products.
“The broad-based contribution of traditional and emerging sectors adds depth to this performance,” Ralhan said, noting that technology-intensive exports were contributing alongside established sectors such as engineering, chemicals and agriculture.
India’s total exports of goods and services were estimated at $476.20 billion during the first half of 2026-27, registering growth of 13.84 per cent over $418.31 billion in the year-ago period.
The United States remained India’s largest merchandise export destination during the period despite tariff-related disruptions.
India’s imports from the US rose 26 per cent to $32.33 billion from $25.66 billion in the corresponding period last year.
Ralhan said the US retaining its position as India’s largest merchandise export market highlighted the importance of the bilateral economic partnership, while stressing the need to diversify export destinations and create new opportunities for Indian businesses.
The combined merchandise and services trade deficit narrowed to $13.30 billion in September from $14.17 billion a year earlier, even as total imports increased to $94.05 billion from $86.93 billion.
Describing the reduction in the overall trade deficit as a positive development, the FIEO president said stronger exports were helping contain the gap despite rising imports.
He called for continued policy support, competitive export finance, predictable trade and logistics costs, and faster market diversification to sustain export growth.
The first-half performance provided a foundation for advancing towards India’s $1 trillion export ambition, Ralhan said, adding that the focus should be on sustaining orders, expanding high-value and technology-intensive exports, and strengthening India’s participation in global value chains.
