India non-petroleum exports reached $70.74B April-May, up 10.5%

India's non-petroleum exports for the April-May 2026 period reached $70.74 billion, reflecting a 10.5% increase compared to the same period in the previous year. This growth underscores the resilience of India's export sectors outside the energy domain, which have shown consistent performance despite global economic uncertainties.

The Ministry of Commerce and Industry reported that non-petroleum exports for April-May 2023 stood at $52.04 billion, which marked a decline compared to $55.67 billion in the same period in 2022. However, the recent data indicates a reversal of this trend, highlighting the effectiveness of policy measures and structural reforms aimed at boosting non-oil exports.

Key sectors contributing to this growth include electronics, agriculture, and manufactured goods. Electronic goods exports, in particular, have seen a significant surge, driven by increased domestic manufacturing and global demand. Agricultural exports have also shown robust growth, with spices and rice leading the way.

The improvement in non-petroleum exports is a positive sign for India's trade balance. The overall trade deficit for April-May 2023 was estimated at $13.28 billion, a 35.41% decline compared to $20.56 billion in the same period in 2022. This reduction in the trade deficit is attributed to lower import volumes and a shift in global demand patterns.

Looking ahead, the growth in non-petroleum exports is expected to continue, supported by India's focus on enhancing manufacturing capabilities and expanding its global market reach. The government's initiatives, such as the Production Linked Incentive (PLI) scheme, have played a crucial role in attracting investment and boosting production in key sectors.

While global economic conditions remain uncertain, India's non-petroleum export sector appears well-positioned to navigate these challenges and contribute to the country's economic growth.