India’s merchandise exports rose by about 15% during April-June 14 this year, Commerce and Industry Minister Piyush Goyal said on Sunday, signalling that outbound shipments have so far held up despite a difficult global trade environment.
The full trade numbers for June will be released by the Commerce Ministry on July 15.
“Even now, if we see April, May and 14 days of June. I have data until June 14, it is 15%,” Goyal said during an interaction with chartered accountants in Mumbai.
The comment is important because India’s export performance is being watched closely at a time when global trade is facing multiple pressures in the form of depreciating Asian currencies, volatile energy and logistics cost and disruption to international shipping caused by the Israel-US’s conflict with Iran.
Strong start to FY27
India’s exports had already shown strong momentum in the first two months of the current financial year.
Merchandise exports rose 18% to $45.2 billion in May, the highest level in six months. However, the trade deficit widened to $28.21 billion as imports also remained elevated.
During April-May 2026-27, exports rose 16.09% to $88.91 billion, while imports increased 15.14% to $145.35 billion. The trade deficit for the two-month period stood at $56.44 billion.
The latest number shared by Goyal suggests that the positive trend continued into the first half of June, though the official data will give a clearer picture of the full month.
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Why this matters
Exports are one of the key pressure points for the economy this year.
A healthy export performance helps support manufacturing activity, improves dollar inflows and provides some cushion to the current account. But the challenge is that India’s import bill also remains high, especially because of crude oil, electronics, machinery and gold.
This means that even when exports grow strongly, the trade deficit can remain elevated if imports rise at the same pace or faster.
For policymakers, the key question is not only whether exports are rising, but whether the growth is broad-based and durable. Engineering goods, electronics, chemicals and gems and jewellery have been among the important export categories in recent months.
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Global headwinds remain
Goyal’s remarks come at a time when exporters are navigating a more uncertain global environment.
The US tariff situation remains a key concern for several sectors. Goyal said India’s exports recorded healthy growth in 2025-26 despite steep tariffs imposed by the US. His latest comments suggest that the government expects Indian exporters to remain competitive even in a difficult external environment.
At the same time, geopolitical tensions have added another layer of risk. Any disruption in crude oil prices, shipping routes or insurance costs can quickly affect trade flows, especially for a country like India that depends heavily on imported energy.
This is why the June trade data will be watched not just for the headline export number, but also for the import bill and the trade deficit.
Goyal links growth push to Viksit Bharat
Goyal also urged chartered accountants to contribute to India’s goal of becoming a developed economy.
“And where does Viksit Bharat begin? It begins in North Mumbai. We have to handle our own area first,” he said.
Goyal is the Lok Sabha MP from Mumbai North. He said he had called upon senior officials, including the municipal commissioner and corporators, to start a cleanliness campaign in the constituency from Monday.
“We all have to make a collective effort for this. We keep our house clean, we also have to keep our area clean, keep our society clean, keep our kaarobaar (Business) also clean,” the minister said.
TOPICSECONOMYexportsPiyush GoyalThis article was first uploaded on June twenty-one, twenty twenty-six, at fifty-two minutes past four in the afternoon. © IE Online Media Services (P) Ltd