India’s exports have risen by approximately 15% in the first four months of the fiscal year, supported by new free trade pacts and a strong start to April-June, as the country aims for a $1 trillion export target by 2026-27 despite rising global trade pressures.
India’s exports rose by about 15% in the first four months of the current fiscal year, Commerce and Industry Minister Piyush Goyal said on Wednesday, as New Delhi seeks to sustain momentum despite a difficult global trade backdrop. He said the country remained on course to reach a $1 trillion target for goods and services exports in 2026-27, up from $863 billion in 2025-26.
Goyal’s remarks come as official data for April-June already point to a stronger start to the year. Government figures show total exports of goods and services in April reached $80.80 billion, up 13.59% from a year earlier, while merchandise exports climbed 13.78% to $43.56 billion. Non-petroleum exports also advanced, helped by gains in sectors including petroleum products, electronic goods, engineering goods and drugs and pharmaceuticals.
The minister said nine free trade agreements concluded over the past four years would help Indian industry reach larger markets. Those pacts span 38 countries and, he said, cover about two-thirds of global trade. The agreements involve Mauritius, the UAE, Australia, the EFTA bloc of Switzerland, Iceland, Norway and Liechtenstein, the UK, Oman, New Zealand, the EU and a framework arrangement with the US.
India’s trade figures also underline the pressure exporters face. In April-June, imports rose 19.89% to $216.18 billion, leaving a merchandise trade deficit of $86.86 billion, wider than the $68.75 billion gap in the same period a year earlier. Exporters have also been dealing with higher freight and insurance costs linked to tensions in West Asia, which have squeezed margins on shipments to Europe and the region. The final July trade numbers are due on August 13.
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