India merchandise and services exports rise 4.84% to $491.8 billion in April–October
NEW DELHI : The Ministry of Commerce and Industry on Monday said that the cumulative (merchandise and services) exports for April-October 2025 for the current fiscal year (FY26) are estimated to be $491.80 billion, indicating an increase of 4.84 per cent when compared to $469.11 billion of the previous fiscal year’s (FY25) first half of April-October 2024.
The overall worth of goods exports during the period April-October 2025 was $254.25 billion, which is slightly more than the previous year’s $252.66 billion, with a very small growth of 0.63 per cent.
The total non-petroleum exports in this period were $219.90 billion, which is a 3.92 per cent increase over $211.60 billion in April-October 2024, according to the Ministry of Commerce and Industry’s data.
Why did the merchandise export value increase in October?
The main factors behind the increase in the value of merchandise exports in October include electronic goods, meat, and dairy, among others, besides marine products, cashew, and coffee.
The export of electronic goods went up by 19.05 per cent—from $3.43 billion in October 2024 to $4.08 billion in October 2025. Similarly, the export of meat, dairy, and poultry products went up by 30.87 per cent from $0.45 billion in October 2024 to $0.58 billion in October 2025.
In the same period, marine product exports also witnessed a growth of 11.08 per cent from $0.81 billion in October 2024 to $0.90 billion in October 2025. The export of cashew saw a significant increase of 126.85 per cent from $0.03 billion in October 2024 to $0.06 billion in October 2025.
Besides that, coffee exports also increased by 10.91 per cent from $0.12 billion in October 2024 to $0.13 billion in October 2025.
India’s combined exports (merchandise and services) for the month of October reached $72.89 billion. The combined total for October 2025 is the same as that of the previous year, estimated at $94.70 billion, thus showing an increase of 14.87 per cent.
The value of service imports is estimated to be $118.87 billion in April-October 2025, thus making an increase over $114.96 billion in the same months of 2024.
The export of services over imports from April to October 2025 is $118.68 billion, whereas in April-October 2024 it was $101.49 billion.
Data revealed that the top five positive growth countries by value change for October 2025 are China (42.35 per cent), Spain (43.43 per cent), Sri Lanka (29.02 per cent), Vietnam (21.42 per cent), and Tanzania (17.92 per cent).