India’s merchandise exports increased to $38.51 billion in December, up from $38.13 billion in November, as per data released by the Ministry of Commerce. Despite global market uncertainties due to US tariff issues and geopolitical tensions, the country saw a rise in exports. Services exports for December stood at $35.50 billion, with imports at $17.38 billion, resulting in a services trade surplus of $18.12 billion.
Merchandise imports also saw a slight increase to $63.55 billion from $62.66 billion, leading to a marginal widening of the merchandise trade deficit to $25.04 billion. Commerce Secretary Rajesh Agrawal noted a 4.33% growth in India’s overall exports in the first nine months of the current financial year, with total exports for FY26 expected to reach $850 billion.
India witnessed a 9.8% growth in exports to the US from April to December in FY26 compared to the same period the previous year. The country is actively working on diversifying its export markets by establishing new trade partnerships with friendly nations and engaging in ongoing discussions with the US to resolve trade issues.
Commerce Minister Piyush Goyal highlighted recent trade developments, including productive dialogues with the EU on the India-EU FTA and the implementation review of the India–EFTA Trade and Economic Partnership Agreement in Liechtenstein. The Minister also announced the launch of initiatives under the NIRYAT PROTSAHAN sub-scheme to support MSME exports, enhance trade finance access, and promote export growth among small firms.
