India’s merchandise and services exports for the period April to October 2025 are estimated at US$ 491.80 billion — up 4.84 percent compared with US$ 469.11 billion in the same period last year.

Merchandise exports alone during April–October reached US$ 254.25 billion, recording a modest increase of 0.63 percent over US$ 252.66 billion in the previous year.

Exports excluding petroleum registered stronger growth, with non-petroleum exports valued at US$ 219.90 billion — a rise of 3.92 percent compared with US$ 211.60 billion in April–October 2024.

Despite these gains, the trade picture for October shows signs of stress. Total exports for the month (merchandise + services) are estimated at US$ 72.89 billion, a slight decline of 0.68 percent compared with October 2024. Imports for October

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