The Ministry of Commerce & Industry has released trade data showing that India’s cumulative exports (merchandise and services combined) for April-February 2025-26 reached an estimated US$ 790.86 Billion, representing a growth of 5.79%. Merchandise exports for this period stood at US$ 402.93 Billion, up from US$ 395.66 Billion in the previous year. In February 2026 alone, total exports reached US$ 76.13 Billion, an 11.05% increase compared to February 2025. This expansion reflects growth in key manufacturing areas, particularly within the contributing sectors of Engineering Goods (up 12.90%) and Electronic Goods (up 10.37%), which are supported by India's increasing integration into global supply chains.
Key Pillars of India’s Trade Performance (April-February 2025-26)
Cumulative Export Milestone: Total exports estimated at US$ 790.86 Billion compared to US$ 747.58 Billion in the corresponding period last year.
Merchandise Sector Growth: Cumulative merchandise exports grew by 1.84% to reach US$ 402.93 Billion.
Services Sector Strength: Services exports for the period are estimated at US$ 387.93 Billion, growing by 10.23%.
Engineering & Electronics Surge: Engineering goods exports rose to US$ 10.36 Billion in February 2026, while Electronic goods reached US$ 4.18 Billion.
Non-Petroleum Performance: Cumulative non-petroleum exports increased by 5.03% to reach US$ 354.12 Billion.
Market Diversification: Positive value changes were supported by gains in major destinations including China (37.66%), USA (3.84%), and UAE (8.52%).
What is the "Services Trade Surplus"? The services trade surplus is the positive difference between the value of services India exports and the value it imports. For the period April-February 2025-26, this surplus reached an estimated US$ 200.96 Billion. This figure plays a role in offsetting the merchandise trade deficit, which stood at US$ 109.64 Billion for the same period. The surplus is supported by India’s strong performance in global IT and professional services, helping to maintain overall financial stability and manage the country's balance of payments.
Policy Relevance: Anchoring India’s Global Export Ambitions
Expanding Export Categories: The 22.66% growth in Meat, Dairy & Poultry and the rise in Engineering Goods reflects growth in the government's efforts to diversify the export basket beyond traditional goods.
Electronic Manufacturing Success: The double-digit growth in Electronic Goods (10.37%) is supported bydomestic manufacturing initiatives and helps position India as a global electronics hub.
Market Resilience: Gaining market share in China and Spain (45.31%) plays a role in ensuring India’s trade remains resilient against regional economic shifts.
Financial Management: The services surplus of US$ 200.96 Billion is supported by strong global demand for Indian services and is a key factor in managing the national trade balance.
Follow the Full Release Here: PIB: India’s Trade Performance – February 2026
