India’s merchandise exports are projected to grow 28.7% year-on-year to $141.8 billion in the October–December quarter of FY2026-27, according to the Export-Import Bank of India (India Exim Bank). The positive outlook is supported by a diversified export basket, new trade agreements and improving global economic conditions.

Non-oil exports are expected to reach $120.3 billion, registering 21.9% growth, while non-oil and non-gems and jewellery exports are projected to increase 16.2% to $106.4 billion.

India Exim Bank highlighted market diversification, strong investment activity, continued demand from major export destinations and favourable exchange rate movements as key factors supporting export growth. However, tighter global monetary policies and changing trade regulations could pose challenges.

India’s merchandise exports increased 18.51% to $259.89 billion during April–September FY27. Meanwhile, trade with China rose 29% to $91.8 billion, reflecting strengthening bilateral trade activity.