India’s overall exports of goods and services surged 29.9% year-on-year to a record $89.99 billion in October 2026. Merchandise exports touched an all-time monthly high of $49.47 billion, while the country’s trade deficit narrowed to $20.09 billion.
New Delhi, November 13 — India’s overall exports, including merchandise and services, jumped 29.9% year-on-year to an all-time monthly high of $89.99 billion in October 2026, according to government data.
Overall exports stood at $69.27 billion in October 2025, indicating a sharp improvement in India’s external trade performance.
Commerce Secretary Rajesh Agrawal said the $89.99 billion figure represents the highest-ever monthly export value recorded by India.
Merchandise exports jump 45%
Merchandise exports registered particularly strong growth during October.
Goods exports increased to a record $49.47 billion, compared with $34.11 billion in the corresponding month of the previous year.
Agrawal said this was India’s highest-ever monthly merchandise export value.
Merchandise exports grew 45.06% year-on-year, which he described as the highest monthly growth rate recorded in the past five years.
Services exports rise to $40.51 billion
India’s services exports also recorded healthy growth during the month.
Services exports increased to $40.51 billion in October 2026, compared with $35.17 billion in October 2025.
The combined performance of merchandise and services pushed India’s total monthly exports close to the $90 billion mark for the first time.
Agrawal said the 29.9% increase in overall exports was the third-highest monthly growth rate in the past five years.
Trade deficit narrows
Despite higher imports, India’s trade deficit narrowed during October.
Imports increased to $110.07 billion, compared with $94.42 billion in the same month last year.
However, stronger export growth helped bring the country’s trade deficit down to $20.09 billion, compared with $25.15 billion in October 2025.
Export growth broad-based
The Commerce Secretary said one of the most encouraging aspects of the October numbers was that export growth was not limited to a particular sector or geography.
Instead, the increase was broad-based across countries and regions.
According to Agrawal, 43 of India’s top 50 export destinations recorded positive growth in October 2026 compared with the same month of 2025.
The record October numbers indicate strong momentum in India’s exports, with both merchandise and services contributing to the country’s highest-ever monthly export value.
