Indian economy got a double boost on Friday, with “highest-ever” monthly exports worth $89.99 billion and forex reserves increasing by $2.49 billion to $719.547 billion, indicating robust growth despite global headwinds.
With a healthy jump in exports, the trade deficit also narrowed to $20.09 billion, Commerce Secretary Rajesh Aggarwal said. India’s overall shipments, including merchandise and services, jumped 29.9 per cent to record the country’s “highest ever” monthly export value of $89.99 billion in October, he said.
The country’s exports — including merchandise and services — stood at $69.27 billion in the same month last year. India’s trade deficit in October 2025 stood at $25.15 billion.
India’s imports rose to $110.07 billion in October, from 94.42 billion in the same month last year.
During October, merchandise exports rose to $49.47 billion from $34.11 billion in the corresponding month of last year, the data showed. Meanwhile, services exports also grew to $40.51 billion, from $35.17 billion in October 2025.
Addressing a media briefing virtually, the commerce secretary said, “In October, the merchandise exports have registered a new peak of USD 49.47 billion. This is the highest-ever monthly merchandise export value, along with the highest monthly growth of 45.06 per cent in the last five years.”
He further stated, “The total exports are also estimated at USD 89.99 billion in October 2026, which is again the highest-ever monthly export value. We have not achieved USD 89.99 billion ever in any month. This is also the third-highest monthly growth rate of 29.90 per cent in the last five years.”
The commerce secretary shared that the encouraging part of the growth is that it is not confined to any particular sector or geography. It is broad-based across countries and regions.
He added, “43 of our 50 export destinations, top export destinations, posted positive growth in October 2026 as compared to 2025.”