India’s merchandise exports rose 6.75 per cent year-on-year to $36.38 billion in September 2025, despite the impact of punitive tariffs imposed by the United States, according to data released by the Commerce Ministry on Wednesday.
The September export figure was also higher than the previous month’s total of $35.1 billion, indicating a steady recovery in outbound shipments amid ongoing global trade disruptions.
“This has been a turbulent year for trade given developments across the world pertaining to supply chains and market access. But despite the turbulence during the first six months of FY26, total exports are higher than last year with $18 billion more. Non-petroleum exports reached $189.49 billion during the first half of FY26, the highest ever for this period,” said Commerce Secretary Rajesh Agarwal.
However, imports rose faster than exports due to heightened demand ahead of the festive season. Total goods imports climbed to $68.53 billion in September from $61.59 billion in August. Agarwal attributed the increase to higher inflows of gold, silver, fertilisers, and electronic goods. “Fertiliser imports have been higher this year due to better demand,” he said.
On the services front, exports were estimated at $30.82 billion in September, while imports stood at $15.29 billion, resulting in an overall goods and services trade surplus of $15.53 billion for the month.
Meanwhile, India and the United States are making progress toward concluding the first tranche of the proposed Bilateral Trade Agreement (BTA). A team of Indian officials is expected to visit Washington this week for further discussions, according to government sources.
“Discussions between the two countries are progressing well,” an official said. India has offered to increase imports of oil and gas from the US as part of the negotiations. This move is aimed at balancing the trade surplus while diversifying India’s energy sources amid global supply uncertainties.
As part of the evolving trade package, India is also likely to source more renewable energy technologies from the US to strengthen its climate action initiatives.
The ongoing talks come as the new US Ambassador to India, Sergio Gor, recently assumed charge at the US Embassy in New Delhi. Last week, he met Prime Minister Narendra Modi to discuss key areas of bilateral cooperation, including defence, trade, technology, and critical minerals.
“The US values its relationship with India and under the strong leadership of President Donald J. Trump and Prime Minister Modi, I am optimistic about the days ahead for both of our nations,” Gor said. “President Trump considers Prime Minister Modi a great and personal friend. Just before I left for New Delhi, they had an incredible phone call, and that engagement will continue in the weeks and months ahead.”
The discussions and trade data reflect India’s efforts to maintain export momentum while deepening economic ties with the US amid shifting global dynamics.
