India’s shipments reach $399 billion, eyes $1 trillion export target: Report

New Delhi, Sep 30 (IANS) India’s export engine is gaining pace and breadth, with combined merchandise and services shipments reaching about $399 billion in April–August 2026, lending weight towards reaching the $1 trillion export target for the year, a new report has said.

The report from European Times said China’s sharp rise in imports from India also proved Indian exporters’ ability to penetrate one of the world’s most competitive markets.

Further, India is gradually building an export map spanning ASEAN, Africa, East Asia, Europe, and North America, with deeper participation in technology intensive production and global value chains.

Exports to Singapore surged by 96 per cent, Malaysia by 74 per cent, China by 39 per cent, and Tanzania by 129 per cent during the period, while exports to the United States also rose by 6 per cent.

Merchandise exports rose 17.8 per cent to $216 billion in April–August 2026, while services exports climbed 13 per cent to $183 billion, the report said.

The combination of these factors suggested that “two complementary engines are supporting India’s export expansion.”

The report forecasted that if merchandise exporters continue to capture market share while services remain resilient, the country could substantially deepen its participation in global trade.

Further, the report underlined that a strong services performance, rapidly expanding electronics and engineering exports, and exceptional growth in several emerging markets collectively paint a strong picture of growth in the coming period.

“Particularly encouraging is the performance of non-petroleum exports, which touched $181 billion, up 14 per cent,” the publication said. Excluding petroleum and gems and jewellery, exports still grew 15 per cent to $169 billion, signalling a broad-based momentum beyond a narrow commodity set.

“India’s underlying export base is becoming broader, more manufacturing-oriented and increasingly capable of responding to opportunities across global markets,” the report noted.

Surge in electronic-goods exports from $2.9 billion in August 2025 to $5.5 billion in August 2026, up 89.8 per cent, was more striking as the sector sits at the heart of modern manufacturing and global value chains.

The growth in the electronics sector proved India’s growing participation in technology-intensive production and international manufacturing networks.

“The next frontier is deeper domestic value addition through components, design, research, engineering and advanced manufacturing,” the report noted.

—IANS

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