West Asia conflict hits India’s March exports

India’s overall exports may have hit a record $860 billion in 2025-26, but March highlighted the impact of global disruptions caused by the war in West Asia, currently in the middle of an uneasy and uncertain ceasefire, with exports of 24 out of the 30 major commodities fell in the month (compared to the year-ago period); and merchandise exports to 10 of the top 20 export markets declined.

- Rajeev Jayaswal

According to provisional data released by the government on ‘Wednesday, the steepest fall in terms of export markets was in exports to two major Gulf Cooperation Council (GCC) countries—the United Arab Emirates (UAE) and Saudi Arabia),. India’s merchandise exports to the UAE fell by 61.93% to $1.29 billion in March as compared to $3.39 billion a year ago and those to Saudi Arabia declined by 45.67% to $527.80 million.

The war in West Asia that broke out on February 28 and blockades at the key transit route through Strait of Hormuz have seen mixed impact on India’s westward exports. While year-on-year (y-0-y) exports to the UK fell by 13.51% in March to $1.2 billion, exports to the Netherlands fell by 51.28% to $873 million, to Belgium by 21.2% to $541.55 million, and to France by 10.32% to $643.16 million.