India Exports Rise 29.9% to $90B as Imports Hit Record

India’s total exports rose 29.9% year over year to nearly $90 billion in October, comprising record merchandise exports of $49.47 billion and estimated services exports of $40.51 billion. Record merchandise imports of $89.35 billion widened the goods trade deficit to a 12-month high of $39.88 billion, with officials and analysts saying seasonal factors may have contributed to the import surge. From April to October, merchandise exports rose nearly 22% to $309.06 billion while the goods deficit reached $218.15 billion; strong shipments are helping support the government’s $1 trillion total-exports goal. Gem and jewellery exports increased 34% to $2.92 billion in October, supported by holiday orders and a longer production window because Diwali fell in November, while April–October exports rose 7.28% to $17.22 billion.