Rising global demand and strengthening industrial supply chains propelled India’s external trade performance, according to data released by India’s Ministry of Commerce & Industry on September 15, 2026.

Cumulative merchandise and services exports reached $399.27bn, up 15.55% y/y. Total exports for August alone climbed to $82.68bn, up 25.41% y/y, while imports rose to $92.09bn, resulting in a monthly trade deficit of $9.41bn.

Sector performance showed widespread gains across key manufacturing categories. Merchandise exports for August rose to $43.81bn, led by substantial surges in electronic goods, which jumped 89.82% to $5.55bn, and petroleum products, which surged 63.27% to $6.81bn. Engineering goods exports advanced 24.86% to $12.32bn. Non-petroleum shipments also expanded firmly.

Meanwhile, services exports reached an estimated $38.87bn for August, reinforcing a robust services trade surplus of $86.71bn for the five-month fiscal period across multiple global export markets.

Market analysts anticipate that sustained momentum in high-tech manufacturing and resilient service exports will cushion domestic economic growth against external headwinds.

Continued expansion in key trade partner markets, including the United States and Singapore, signals favourable revenue visibility for export-oriented corporations, supporting broader capital expenditure cycles and foreign exchange reserve stability through the remainder of the fiscal year.

Policymakers remain optimistic that strategic industrial initiatives will further boost competitiveness and sustain strong macroeconomic fundamentals across the broader national industrial trade ecosystem.