India's exports to Gulf fall 57.6% in March 2026
India's exports to Gulf countries dropped sharply, down 57.6% in March 2026 compared to last year, falling from $5.07 billion to $2.15 billion.
The main reason? Shipping disruptions caused by the ongoing West Asia conflict, which especially hurt industrial and non-essential exports.
Petroleum, iron and steel exports slump
Petroleum products fell by nearly two-thirds, and iron and steel exports shrank by a huge 90%.
Everyday items like auto parts, plastic raw materials, and electric machinery also saw big drops, some over 70%.
Even food staples weren't spared: rice and veggies slipped a bit, while spices lost almost half their value and marine products tumbled nearly 68%.
Discretionary buys like gold jewelry and cashews took some of the biggest hits, with exports dropping over 70%.