India has recorded its highest-ever monthly export earnings, with total shipments of goods and services reaching $89.99 billion in October, a jump of almost 30 per cent on a year earlier, according to figures released by the Ministry of Commerce and Industry on Friday.
The surge was driven by goods. Merchandise exports rose 45.06 per cent year on year to $49.47 billion, up from $34.11 billion in October 2025 and above September’s $44.40 billion. Commerce Secretary Rajesh Agrawal said it was the highest monthly goods export figure India has ever recorded, and the fastest monthly growth in five years.
Services exports were estimated at $40.51 billion, up from $35.17 billion a year earlier. The ministry cautioned that the October services figures are estimates: the latest actual data from the Reserve Bank of India covers September, so the services component may be revised when updated figures arrive.
The strong export performance narrowed India’s overall trade deficit to $20.09 billion in October, from $25.15 billion a year earlier, even as total imports rose to $110.07 billion. But the goods picture was less flattering: merchandise imports climbed to $89.35 billion, pushing the merchandise trade deficit to $39.88 billion, its highest level in a year, according to a Reuters calculation based on the government data.
The breadth of the export surge stood out. The Federation of Indian Export Organisations said shipments expanded across 43 of India’s top 50 export destinations in October, and its president, S. C. Ralhan, said the figures showed the resilience of Indian exporters despite global trade uncertainties. Gems and jewellery exports rose 34 per cent to $2.92 billion, while agricultural exports grew 17.2 per cent to $4.47 billion.
The record month caps a strong start to the financial year. Combined exports of goods and services for April to October reached an estimated $568.84 billion, up 16.66 per cent on the same period last year, with merchandise exports at $309.06 billion.
The ministry noted the surge came despite economic uncertainty in global markets and disruption to shipping from the continuing conflict in the Middle East. The question now is whether October’s record pace can be held through the rest of the year.
Sources: Reuters; Ministry of Commerce and Industry, Government of India; ANI (https://www.dailyprabhat.com/indias-exports-surge-nearly-30-to-usd-89-99-billion-in-october-trade-deficit-narrows-to-usd-20-09-billion/); IANS (https://hiindia.com/indias-merchandise-exports-rise-to-record-high-of-49-47-billion-in-oct-despite-global-shocks/).
