THEBUSINESSBYTES
BUREAU
NEW
DELHI, JULY 19, 2026
ASEAN and African
nations emerged as the biggest drivers of India's export growth during the
first two months of the current fiscal, highlighting the country's deepening
trade footprint across emerging markets even as North America and Europe
continued to remain key destinations.
Commerce ministry
data showed that merchandise exports rose 16.09 per cent year-on-year to $88.91
billion during April-May 2026-27.
Exports to the
Association of Southeast Asian Nations (ASEAN) registered the sharpest
increase, soaring 66.9 per cent to $10.5 billion from $6.3 billion in the
corresponding period last year. Shipments to Africa also posted strong growth
of 53.1 per cent, climbing to $9.6 billion from $6.3 billion.
Together, the two
regions contributed more than $7.6 billion in additional exports over the year-ago
period, accounting for a substantial share of India's overall export expansion.
Despite relatively
modest growth, the North American Free Trade Agreement (NAFTA) region,
comprising the US, Canada and Mexico, retained its position as India's largest export
destination, with shipments rising 2.6 per cent to $19.3 billion from $18.8
billion. Exports to Europe increased 4 per cent to $17 billion from $16.4
billion.
Among other regions,
exports to North East Asia recorded a robust 30.7 per cent growth to $8.3
billion, while shipments to South Asia rose 40.2 per cent to $6.1 billion.
Exports to Latin
America and the Caribbean (LAC) grew 12.5 per cent to $3 billion, while
Oceania, comprising Australia and New Zealand, recorded a 29 per cent increase
to $2.1 billion. Shipments to the Commonwealth of Independent States (CIS),
which includes Russia, Armenia, Belarus and Kazakhstan, rose 7.7 per cent to
$1.1 billion.
The data indicated that regions outside North America and Europe now account for more than half of India's exports, underscoring the country's strategy of diversifying export destinations amid global economic uncertainties
