- February 16, 2026
India’s Exports In January 2026 Rise 13.2% To $80.45 Billion; Imports Jump 18.8%
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India’s overall trade deficit nearly doubles to $10.38 billion in January 2026 from $5.39 billion in January 2025.
India’s merchandise exports edged up from $36.34 billion to $36.56 billion.
India’s combined merchandise and services exports rose 13.16 per cent year-on-year to $80.45 billion in January 2026, up from $71.09 billion in the same month last year, according to data released by the commerce ministry on Monday. However, imports expanded at a faster pace of 18.77 per cent, climbing to $90.83 billion from $76.48 billion a year earlier.
As a result, the country’s overall trade deficit nearly doubled to $10.38 billion in January 2026 from $5.39 billion in January 2025.
During the month, both merchandise and services trade recorded gains. Merchandise exports edged up from $36.34 billion to $36.56 billion, while services exports showed strong growth, rising from $34.75 billion to $43.90 billion.
April-January trade performance
Commerce Secretary Rajesh Agrawal said that for the first 10 months of the financial year (April-January), India’s combined exports are estimated at $720.76 billion, compared with $679 billion in the corresponding period last year, a growth of 6.15 per cent, or roughly $40 billion.
“This year, we expect to cross $860 billion in total exports of merchandising and services. In services, we expect to cross $410 billion this year (2025-2026),” said Agrawal.
India’s total exports had reached a record $824.9 billion in FY2024-25, registering a 6.01 per cent rise from $778.1 billion in 2023-24 and surpassing the earlier projection of $800 billion.
Imports trend higher
Overall imports during April-January 2025-26 increased 6.54 per cent year-on-year to $823.41 billion, compared with $772.85 billion in the same period of the previous fiscal.
Merchandise imports stood at $649.86 billion, up 7.21 per cent from $606.13 billion a year earlier, while services imports rose more modestly by 4.10 per cent to $173.55 billion from $166.72 billion.
The latest data underscores a widening trade gap driven by faster import growth, even as exports continue to expand and remain on track for another record year.
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February 16, 2026, 17:18 IST
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