India Merchandise Exports Rise 15% From April to Mid-June

India’s merchandise exports rose about 15% between April and June 14, Commerce and Industry Minister Piyush Goyal said during an interaction with chartered accountants in Mumbai.

The update points to continued export momentum in the first quarter of FY27, even as global trade conditions remain uncertain. The Commerce Ministry will release the full June trade data on July 15.

How Did India’s Merchandise Exports Perform in April-May FY27?

India had already reported firm export growth in the first two months of the financial year.

Why Does India’s Trade Deficit Matter Despite Export Growth?

Rising exports do not automatically mean lower trade pressure.

India’s import bill remained elevated because crude oil, electronics, machinery, and gold continue to account for a large share of inbound shipments. This kept the trade deficit at $28.21 billion in May and $56.44 billion during April-May FY27.

That is why the July 15 trade release will be watched not only for export growth, but also for imports and the overall trade gap.

Which Export Categories Are Driving India’s Export Growth?

Policymakers and market watchers will look at whether export growth is broad-based across key categories.

Important segments include:

• Engineering goods
• Electronics
• Chemicals
• Gems and jewellery
• Petroleum products
• Textiles

If growth is spread across multiple sectors, it may indicate stronger and more durable export momentum.

What Global Trade Pressures Are Affecting Indian Exporters?

Indian exporters are operating in a difficult external environment.

Key risks include:

• Depreciating Asian currencies
• Volatile energy prices
• Higher logistics costs
• Disruption to international shipping routes
• Uncertainty around US tariffs
• Geopolitical tensions linked to the Israel-US conflict with Iran

These factors can affect shipping costs, delivery timelines, export margins, and buyer demand.

Final Outlook: Why Is India’s July 15 Trade Data Important?

The full June trade data will show whether the momentum seen until June 14 continued through the rest of the month.

The key numbers to watch will be whether:

• Exports maintain the 15% growth pace
• Imports rise faster than exports
• The trade deficit widens or narrows
• Growth remains broad across major sectors
• Global cost pressures affect shipment trends

This release will give a clearer view of India’s trade performance in the first quarter of FY27.