Noting that India had posted strong export growth in both April and May, commerce secretary Rajesh Agrawal said: “If we carry on this momentum, FY27 will be a good year for trade.”
On the West Asia crisis, he said it had impacted exports in March though the dip in exports improved in April but outbound shipments have reached nearly the same level of exports in May 2026 as in May 2025 and the growth was driven by the UAE, Saudi Arabia, Jordan and Yemen.
“Many of our problems will get alleviated if the peace deal is reached and sustainable,” he said.
The US and Iran Sunday announced a preliminary agreement to end hostilities and reopen the Strait of Hormuz.
Agrawal said India’s export base had expanded over the past 12 years, with exports nearly doubling during the period. He said services export growth had tripled over the same period and that the government expected to continue the momentum as more free trade agreements (FTA) come into force.
“We hope to continue the momentum in exports growth with a new vigour with all the FTAs coming in,” he said.As per the data, imports from China rose to $24.7 billion in April-May 2026, compared to $20.22 billion in April-May 2025.
Agrawal said that LPG imports have begun from the US, apart from imports of crude oil as India has begun buying LPG from new destinations this year.
Merchandise exports to the US rose 0.5%, EU up 0.47% and to China increased 25.85% year-on-year in April-May 2026 while exports to the UAE rose in May, after dip in March and April.