India’s merchandise exports to the United States surged 23.53% to $8.3 billion in June, even as imports from the world’s largest economy fell 10.61% to about $4 billion, according to commerce ministry data. In the first quarter of FY26 (April–June), exports to the US climbed 22.18% to $25.51 billion, while imports rose 11.68% to $12.86 billion. The US retained its position as India’s top trading partner during the period. The data comes as New Delhi and Washington hold their fifth round of talks for a proposed bilateral trade agreement, with an Indian delegation currently in the US capital.
India’s trade with China also recorded an uptick. Exports to the neighbouring country China jumped 17.18% year-on-year to $1.38 billion in June and rose 17.87% to $4.4 billion during the April–June period. Imports from China grew 2.48% to $9.51 billion in June and 16.33% to $29.74 billion for the quarter, according to the report.
Among other key markets, Indian exports posted growth to Singapore, Germany, France, Brazil, and South Korea in June. However, outbound shipments declined to several destinations including the UAE, the Netherlands, the UK, Bangladesh, Saudi Arabia, Australia, Nepal, South Africa, Italy, Belgium, and Malaysia.
On the import side, India saw a fall in shipments from countries such as the UAE, Russia, Iraq, Germany, Malaysia, Switzerland, Australia, and Taiwan. Imports, however, increased from Saudi Arabia, Singapore, Korea, Japan, Hong Kong, and Thailand. Meanwhile, India’s merchandise exports held steady at $35.14 billion in June, almost unchanged from $35.16 billion a year ago, as global headwinds weighed on external demand. However, the trade deficit narrowed to a four-month low of $18.78 billion during the month, according to government data.
Imports declined 3.71% year-on-year to $53.92 billion in June, largely driven by a drop in crude oil and gold shipments. Crude imports fell 8.37% to $13.8 billion, while gold imports dropped 25.73% to $1.9 billion. Several core export sectors saw contractions in June. Petroleum product exports fell sharply by 15.92% to $4.61 billion, while other labour-intensive or primary goods segments — including fabrics, gems and jewellery, leather, iron ore, oil seeds, cashew, spices, tobacco, and coffee — also recorded negative growth. If the growth continues like this, then we are going to cross last year’s exports figures,” he said. India’s total exports (goods and services) in FY25 touched a record high of $825 billion.
According to the latest estimates, services exports stood at $32.84 billion in June, up from $28.67 billion in the same month last year. Services imports were estimated at $17.58 billion compared to $15.14 billion in June 2024.
