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Key Highlights:
Record merchandise exports in India have been witnessed. The highest level of Indian exports witnessed in May 2026 stood at $45.2 billion, a growth of 18% compared to May 2025 when the Indian export total was only $38.3 billion. On June 15, 2026, the Ministry of Commerce and Industry of India recorded the highest level of export of goods in a month by India.
Engineering goods saw a rise in exports of 24.5%, amounting to US$12.31 billion. Exports of petroleum products for export rose by 54.89% to end at US$8.42 billion. Electronic goods saw an 11.6% increase in exports, valued at US$5.10 billion. Increase in the export of organic and inorganic chemicals was seen at 12.9%, reaching US$2.7 billion. Gems & jewellery showed a rise in exports of 6.7% to US$2.53 billion.
$8.4 billion
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Increased exports are a clear indicator that there is increased demand for Indian products globally. Increased demand will lead to job opportunities in the fields of engineering, electronics, and logistics, which exported over $17 billion in the month of May 2026.
But when it comes to trade balance, the picture looks different. India's trade deficit has increased from $22.5 billion last year to $28.2 billion in May 2026, because of the increase in the cost of imported crude oil. Gold imports have also increased by 34% due to higher prices. The larger deficit adversely impacts the value of the rupee.
According to Rahul Agrawal, Principal Economist at ICRA, “The resolution of tensions in West Asia, and the decline in energy prices, is expected to provide some reprieve to the trade deficit figures. We now see the CAD (Current Account Deficit) to remain largely stable in FY2027 compared to our earlier projection of 1.7% to 2.0%of GDP.”
Experts highlight the point that crude oil imports have increased by 53.8% to reach $22.7 billion in May 2026 compared to $14.7 billion in May 2025. It has been a major reason behind the wider trade deficit position of $28.2 billion. With this fall in global crude oil prices through FY2027, India’s import bill may become lower.
The exports worth $45.2 billion in May 2026 of India are indeed a true landmark. This is because of the rapid expansion witnessed in engineering goods, petroleum, electronic goods, and chemical products. Yet, with the rising rate of imports of India by 22.1%, particularly crude oil and gold, the trade deficit is predicted to stand at $28.2 billion. It is necessary to control the bill of imports in future.
What is the maximum export volume of goods from India in the fiscal year 2025-26?
For the fiscal year 2025-26, the maximum export record of goods in India was $442 billion. On the inclusion of services in this list, the exports of India in the fiscal year 2025-26 touched the maximum level of $863 billion, showing the resilience of India in its international engagements.
Which countries supply crude oil to India?
India requires around 84% of its crude oil from other nations. There are more than 40 countries that provide crude oil to India. Among them, Russia tops in the list of the largest providers of crude oil, after Iraq, Saudi Arabia, UAE, and USA.
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