Context:
India’s merchandise exports increased to $43.6 billion in April 2026 despite disruptions arising from the West Asia crisis and global trade uncertainties. The growth was supported by higher global prices and efforts by Indian exporters to diversify markets and maintain supply chains
- Merchandise exports refer to export of physical goods such as petroleum products, engineering goods, textiles, electronics, and chemicals.
- Services exports include software services, banking, tourism, consultancy, and business process outsourcing (BPO).
- Exports are a major component of the Current Account in the Balance of Payments (BoP).
- A rise in exports helps earn foreign exchange reserves, improve industrial production, and generate employment.
- Trade deficit occurs when imports exceed exports in value terms.
- India’s trade is influenced by factors such as global demand, crude oil prices, exchange rates, shipping disruptions, and geopolitical tensions.
- Diversification of export markets reduces dependence on a few countries and improves trade resilience.
- India promotes exports through measures such as Production Linked Incentive (PLI) schemes, Free Trade Agreements (FTAs), export promotion councils, and trade facilitation reforms.
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