India's overall exports, covering merchandise and services, rose 29.9 per cent year-on-year to an estimated $89.99 billion in October 2026, from $69.27 billion in the same month last year, according to data released by the Ministry of Commerce and Industry on Friday, November 13.

Source: IANS

The increase was led by goods shipments. Merchandise exports climbed 45.06 per cent to $49.47 billion in October, from $34.11 billion a year earlier. Commerce Secretary Rajesh Agrawal said India recorded its highest-ever monthly goods exports during the month, and called the $49.47 billion figure a new peak with the highest monthly growth in five years.

Source: The Hindu BusinessLine

$89.99 billionTotal exports, October 2026 — record high
$49.47 billionMerchandise exports, up 45.06% — all-time monthly high
$40.51 billionServices exports, October 2026 (estimate)
$20.09 billionOverall trade deficit, October 2026

Services cushion narrows the overall gap, merchandise deficit widens

Services exports were estimated at $40.51 billion in October, up from $35.17 billion a year earlier, and that services surplus helped narrow India's overall trade deficit to $20.09 billion, from $25.15 billion in October 2025. Total imports rose to $110.07 billion, from $94.42 billion a year earlier.

Source: BizzBuzz (PTI)

The merchandise trade deficit, however, widened to a one-year high of $39.88 billion in October, as festive-season demand and higher oil prices pushed up the import bill, The Hindu BusinessLine reported. Merchandise imports rose to $89.35 billion in the month.

For the first seven months of the financial year, cumulative exports during April-October 2026-27 are estimated at $568.84 billion, growth of 16.66 per cent over $487.59 billion in the same period last year, according to the Commerce Ministry's quick estimates published by PIB. Petroleum products, electronic goods, engineering goods, gems and jewellery and chemicals were among the main export drivers in October.

K. Rangarajan, Vice-Chancellor of the Indian Institute of Foreign Trade, told ANI the growth was being driven largely by non-oil shipments, particularly electronic goods and mobile phones, putting India on a trajectory to cross the $1 trillion export milestone sooner than expected, though he noted a weaker rupee, higher petroleum exports and a favourable base effect may also have contributed.

Source: ANI via DevDiscourse

The ministry has clarified that the October services figures are estimates: the latest actual services data released by the Reserve Bank of India relates to September, so the services component may be revised when updated official figures become available. The next monthly trade releases will show whether October's record goods exports are sustained.