India merchandise and services exports rise 4.84% to $491.8 billion in April–October: MoCI

In November 2025, the Ministry of Commerce and Industry (MoCI) reported that India’s combined merchandise and services exports reached an estimated USD 491.8 billion (bn) in the first seven months of Financial Year 2025-26 (FY26, April–October 2025).

• This reflects a 4.84% increase from USD 469.11 bn recorded during the same period last year.

April-October 2025

Imports: The total import during April-October 2025 is estimated at USD 569.95 bn registering a growth of 5.74%.

• The merchandise imports were USD 451.08 bn as compared to USD 424.06 bn during April – October 2024.
• Non-petroleum, non-gems & jewellery imports were USD 286.28 bn, compared to USD 264.56 bn in April – October 2024.
• The estimated value of service imports during April-October 2025 is USD 118.87 bn compared to USD 114.96 bn a year ago.

Exports: The merchandise exports during April-October 2025 were USD 254.25 bn as compared to USD 252.66 bn during April-October 2024.

• Non-petroleum, non-gems & jewellery exports were USD 203.40 bn, compared to USD 194.41 bn in April – October 2024.
• The estimated value of service imports during April-October 2025 is USD 237.55 bn compared to USD 216.45 bn a year ago.

Top 5 import sources: In terms of value growth, China P Rp (11.88%),  (United Arab Emirates)UAE (13.43%), Hong Kong (HK) (31.38%), Ireland (169.44%) and U S A (United States of America) (9.73%) recorded increase during April – October 2025.

Top 5 export destinations: In terms of value growth, U S A (10.15%), China P Rp (24.77%), UAE (5.88%), Spain (40.74%) and HK (20.7%) recorded positive growth in April-October 2025.

October 2025

Imports: The Total imports (Merchandise and service combined) for October 2025 are estimated at USD 94.70 bn, registering a 14.87% growth over October 2024.

• The merchandise imports during October 2025 were USD 76.06 bn as compared to USD 65.21 bn in October 2024.
• Non-petroleum, non-gems & jewellery imports were USD 42.78 bn, compared to USD 39.58 bn in October 2024.
• The estimated value of services imports for October 2025 is USD 18.64 bn as compared to USD 17.23 bn in October 2024.

Exports: India’s total exports (Merchandise and Services combined) for October 2025 is estimated at USD 72.89 bn, registering a negative (-) 0.68% over October 2024.

• The merchandise exports during October 2025 were USD 34.38 bn as compared to USD 38.98 bn in October 2024.
• Non-petroleum, non-gems & jewellery exports were USD 28.14 bn, compared to USD 31.32 bn in October 2024.
• The estimated value of services exports for October 2025 is USD 38.51 bn as compared to USD 34.41 bn in October 2024.

Top 5 Export destinations: In terms of value growth, China P Rp (People’s Republic) (42.35%), Spain (43.43%), Sri Lanka  (29.02%), Vietnam  (21.42%) and Tanzania Rep (17.92%) recorded an increase during October 2025.

Top 5 Import sources:  Top 5 import sources, in terms of change in value, exhibiting growth in October 2025 vis a vis October 2024 are Switzerland (403.67%), HK (93.98%), China (15.63%), U K (194.41%) and UAE (14.38%).

Trade during April – October 2025

October 2025 Trade