Key facts
- India's merchandise exports grew 15.9% in the April-June quarter.
- ASEAN and African regions were the primary drivers of this export growth.
- Exports to ASEAN increased by 66.9% to $10.5 billion in April-May FY27.
- Shipments to Africa saw a 53.1% surge to $9.6 billion in the same period.
- Higher crude oil prices contributed to the overall export value increase.
India's merchandise exports saw a significant expansion of 15.9% in the April-June quarter, adding $17.75 billion in value compared to the previous year, according to official data. The Association of Southeast Asian Nations (ASEAN) and African regions emerged as the primary contributors to this growth, with exports to ASEAN jumping 66.9% to $10.5 billion and shipments to Africa surging 53.1% to $9.6 billion during April-May of the current fiscal year.
Further analysis indicates that specific free trade agreement (FTA) partners within ASEAN also experienced substantial increases. Exports to Singapore more than doubled, rising 101.2% to $6.52 billion, while shipments to Sri Lanka saw an even larger jump of 123.8% to $2.35 billion in the April-June period. Overall, shipments to the ASEAN region grew 61.6% to $14.61 billion in the first quarter of FY27.
Despite these strong performances in emerging markets, NAFTA countries remained India's largest export destination, with shipments increasing by a modest 2.6% to $19.3 billion. Exports to Europe also saw a smaller rise of 4% to $17 billion. The data suggests a strategic diversification of India's export markets, with regions outside North America and Europe now accounting for over half of the country's exports, a move aimed at navigating global economic uncertainties.