India sets July merchandise export record as trade deficit widens
Business
India just set a July record for merchandise exports, reaching $44.24 billion, up 19.5% from last year.
For April-July 2026, exports grew by 17%, but imports jumped even more (19.27%), landing at $292.38 billion and widening the trade deficit to $118.6 billion.
India exports led by engineering goods
Engineering goods led the pack for April-July with $46.38 billion exported, followed by petroleum products and electronics.
On the import side, petroleum, crude oil and products topped at $78.92 billion, while electronic goods imports also soared.
The US was India's biggest export customer ($34.49 billion), the UAE came next, and China remained the largest supplier ($52.71 billion).
India's imports from Russia rose to $34.50 billion.