Thumbnail: Viksit Haryana | India exports — record $89.99 billion in October 2026 (PIB, 13 November 2026)
India has recorded its biggest-ever month for exports. According to fresh data released by the Ministry of Commerce and Industry on 13 November 2026, the country’s total exports of goods and services touched $89.99 billion in October 2026 — nearly 30% higher than the same month last year.
The headline came from merchandise exports. India sold $49.47 billion worth of goods abroad in October, the highest monthly goods export figure ever recorded. Commerce Secretary Rajesh Agrawal said India had recorded its highest-ever monthly goods exports in October 2026.
October 2026 at a Glance
| Indicator | October 2026 | October 2025 |
|---|---|---|
| Total exports (goods + services) | $89.99 billion | $69.27 billion |
| Merchandise exports | $49.47 billion | $34.11 billion |
| Services exports (estimated) | $40.51 billion | $35.17 billion |
| Total imports | $110.07 billion | $94.42 billion |
| Overall trade deficit | $20.09 billion | $25.15 billion |
What Drove the October Surge?
Five sectors led the jump. Petroleum product exports rose more than 140% to $8.89 billion, while electronic goods exports grew 62.70% to $6.64 billion.
| Sector | October 2026 | Growth |
|---|---|---|
| Petroleum products | $8.89 billion | +140.21% |
| Electronic goods | $6.64 billion | +62.70% |
| Gems & jewellery | $3.21 billion | +40.06% |
| Organic & inorganic chemicals | $2.89 billion | +36.20% |
| Engineering goods | $12.74 billion | +36.01% |
Engineering goods exports have now grown for seven straight months — a sign that demand for Indian factory output is holding up across the world. Agricultural and allied exports also rose 17.2% to $4.47 billion in October, good news for farmers.
Which Countries Bought the Most?
Demand rose across nearly every major market. Exports to the USA grew 39.25%, while shipments to Spain surged 352% and to Malaysia by more than 280%. Singapore (139%) and China (48%) were also among the fastest-growing destinations. In all, 43 of India’s top 50 export destinations recorded growth in October, according to the Federation of Indian Export Organisations (FIEO).
April–October 2026-27: The Seven-Month Picture
| Indicator | April–October 2026-27 | A year ago |
|---|---|---|
| Total exports | $568.84 billion (+16.66%) | $487.59 billion |
| Merchandise exports | $309.06 billion (+21.96%) | $253.40 billion |
| Services exports | $259.78 billion (+10.93%) | $234.18 billion |
| Total imports | $662.19 billion | $570.84 billion |
| Overall trade deficit | $93.35 billion | $83.25 billion |
In the first seven months of the financial year, India exported $568.84 billion worth of goods and services — 16.66% more than a year earlier. Services exports stayed strong, producing a $124.80 billion services surplus that offset much of the goods deficit.
Did the Deficit Fall or Rise? The Full Picture
The October numbers come with an important nuance. The overall trade deficit for the month narrowed to $20.09 billion from $25.15 billion a year ago — a clear improvement.
But the deficit for April–October as a whole widened to $93.35 billion from $83.25 billion, because goods imports — led by oil and gold — stayed high. Merchandise imports in October were $89.35 billion. One strong month, in other words, is not the whole story.
One more caution: the October services figures are estimates. The Reserve Bank of India’s latest services data covers only up to September 2026, so the services numbers may be revised when final data arrives.
The $1 Trillion Target — How Far Away?
Inaugurating the 45th India International Trade Fair (IITF) in New Delhi on 13 November, Commerce and Industry Minister Piyush Goyal said India was well on track to achieve its $1 trillion export target in the current financial year. With $568.84 billion already exported in seven months, that claim carries weight.
FIEO President S. C. Ralhan said growth across 43 major markets showed the resilience of Indian exporters, and that the priority now was to sustain the momentum.
What It Means for Jobs and Farmers
Rising exports feed directly into factory orders, artisan work and farm incomes. Growth in electronics and engineering exports supports manufacturing jobs, while higher farm exports help farmers get better prices. For states like Haryana, the trend matters too — the Haryana government has set a target of doubling the state’s exports to $40 billion over five years.
Frequently Asked Questions
Q1. How much did India export in October 2026?
Total exports of goods and services were $89.99 billion, up 29.90% from October 2025 — the highest monthly figure on record.
Q2. How much did merchandise exports grow?
Merchandise exports were $49.47 billion, up 45.03% from $34.11 billion a year earlier — the highest monthly goods export figure ever.
Q3. Which sectors led the growth in October?
Petroleum products (+140.21%), electronic goods (+62.70%), gems & jewellery (+40.06%), chemicals (+36.20%) and engineering goods (+36.01%).
Q4. Did India’s trade deficit fall?
In October, the overall deficit narrowed to $20.09 billion from $25.15 billion a year ago. But the April–October deficit widened to $93.35 billion from $83.25 billion.
Q5. What is India’s $1 trillion export target?
The government aims to take total goods and services exports to $1 trillion in FY 2026-27. Exports of $568.84 billion have already been recorded in April–October.
Next Action
Read the official Commerce Ministry release on PIB: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2335914
Sources
- Ministry of Commerce & Industry, Press Information Bureau (PIB), 13 November 2026: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2335914
- IANS / Northern Herald: https://www.northernherald.in/business/india%E2%80%99s-exports-of-goods-and-services-surge-30-pc-to-touch–89-99-billion-in-oct/article-31968
- FIEO reaction (BizzBuzz): https://www.bizzbuzz.news/economy/priority-now-is-to-translate-strong-momentum-into-sustained-export-growth-industry-1415537
- Rural Voice (agricultural exports): https://eng.ruralvoice.in/national/india-overall-exports-jump-29.9-percent-in-october-agricultural-exports-rise-17.2-percent.html