India Exim Bank forecasts India's merchandise exports to amount to US$ 125.3 bn and Non-oil exports to US$ 113.4 bn for Q4 (January-March) of FY2026

Export-Import Bank of India (India Exim Bank) forecasts India’s total merchandise exports to amount to US$ 125.3 bn, witnessing a year-on-year (yo-y) growth of 8.7%, while non-oil exports are forecast to increase to US$ 113.4 bn, growing at 12.1%, during Q4 (January-March) of FY2026.

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Non-oil and non-gems and jewellery exports are forecast to amount US$ 98 bn, with an yo-y growth of 5.7% during the same quarter.

With these forecasts, India’s total merchandise exports for the full year for FY2026 are expected to be at US$ 455.6 billion, growing at 4.1%, while non-oil exports are likely to touch US$ 401.6 billion, growing at 7.3%. Non-oil and non-gems and jewellery exports are expected to amount to US$ 364.9 billion, growing at 5.7% in FY2026.