India’s exports rise to USD 491.80 bn in April–October 2025, up 4.84% year-on-year

Electronics, cashew, meat, dairy and marine products drive October export growth; services trade surplus improves to USD 118.68 bn

New Delhi, Nov. 17: India’s cumulative exports (merchandise and services) for April–October 2025 are estimated at USD 491.80 billion, an increase of 4.84 percent over USD 469.11 billion recorded during the same period last year. Merchandise exports rose marginally to USD 254.25 billion, while non-petroleum exports grew 3.92 percent to USD 219.90 billion, according to data released by the Union Ministry of Commerce & Industry on Monday.

Key contributors to export growth in October 2025 included electronic goods, meat and dairy products, marine products, cashew and coffee. Electronic goods exports increased 19.05 percent to USD 4.08 billion, while cashew shipments surged 126.85 percent. Meat, dairy and poultry exports rose 30.87 percent, and marine products grew 11.08 percent compared to October 2024.

October 2025 trade snapshot

India’s total exports (merchandise + services) for October 2025 are estimated at USD 72.89 billion, marginally lower than USD 73.39 billion in October 2024. Total imports for the month stood at USD 94.70 billion, up from USD 82.44 billion last year.

Merchandise (October 2025):

• Exports: USD 34.38 bn (vs USD 38.98 bn in Oct 2024)
• Imports: USD 76.06 bn (vs USD 65.21 bn)

Services (October 2025):

• Exports: USD 38.52 bn (vs USD 34.41 bn)
• Imports: USD 18.64 bn (vs USD 17.23 bn)

April–October 2025 trade trends

Across the seven-month period, India registered growth in both merchandise and services trade.

Merchandise (Apr–Oct 2025):

• Exports: USD 254.25 bn (vs USD 252.66 bn)
• Imports: USD 451.08 bn (vs USD 424.06 bn)
• Trade deficit: USD 196.82 bn

Services (Apr–Oct 2025):

• Exports: USD 237.55 bn (vs USD 216.45 bn)
• Imports: USD 118.87 bn (vs USD 114.96 bn)
• Trade surplus: USD 118.68 bn

India’s total imports (goods + services) for April–October 2025 are estimated at USD 569.95 billion, marking a growth of 5.74 percent.

Non-petroleum and non-gems trade

Non-petroleum and non-gems & jewellery exports in October 2025 totalled USD 28.14 billion, up from USD 31.32 billion a year ago. Imports under this category rose to USD 42.78 billion from USD 39.58 billion.

For April–October 2025:

• Exports: USD 203.40 bn (vs USD 194.41 bn)
• Imports: USD 286.28 bn (vs USD 264.56 bn)

Sector trends

Strong performers in October 2025:

• Cashew: ↑ 126.85%
• Meat, dairy & poultry: ↑ 30.87%
• Electronic goods: ↑ 19.05%
• Other cereals: ↑ 14.71%
• Marine products: ↑ 11.08%
• Coffee: ↑ 10.91%

Sectors with negative growth:

• Pearls, precious & semi-precious stones: ↓ 25.35%
• Petroleum products: ↓ 21.65%
• Pulp & waste paper: ↓ 21.34%
• Iron & steel: ↓ 19.32%
• Newsprint: ↓ 18.28%
• Pulses: ↓ 16.42%
• Coal, coke & briquettes: ↓ 4.21%
• Plastic materials: ↓ 3.55%
• Wood products: ↓ 2.42%
• Textile yarn & made-up articles: ↓ 1.17%
• Organic & inorganic chemicals: ↓ 0.11%

Services sector outlook

Services exports are estimated to grow 9.75 percent during April–October 2025 compared to the same period last year, driven by strong global demand.

Top export destinations

October 2025 (YoY growth):

• China: 42.35%
• Spain: 43.43%
• Sri Lanka: 29.02%
• Vietnam: 21.42%
• Tanzania: 17.92%

April–October 2025:

• USA: 10.15%
• China: 24.77%
• UAE: 5.88%
• Spain: 40.74%
• Hong Kong: 20.70%

Top import sources

October 2025 (YoY growth):

• Switzerland: 403.67%
• Hong Kong: 93.98%
• China: 15.63%
• UK: 194.41%
• UAE: 14.38%

April–October 2025:

• China: 11.88%
• UAE: 13.43%
• Hong Kong: 31.38%
• Ireland: 169.44%
• USA: 9.73%