Unexpected markets powered India’s exports surge in April, shows data – Delhi News Daily

Led by strong growth in exports to Sri Lanka (214.7 per cent), Singapore (179.2 per cent), Tanzania (157.6 per cent), and Hong Kong (90.6 per cent), India’s goods exports rose 13.8 per cent to $43.56 billion in the first month of FY27. Strong exports growth was also recorded to Bangladesh (64.2 per cent), Australia (55 per cent), Malaysia (59.7 per cent) and China (27 per cent). Exports to other West Asian economies such as Qatar

(-76 per cent), Kuwait (-74.1 per cent), Iraq (-68.7), Iran (-63.8 per cent) and Saudi Arab (-2.9 per cent) declined sharply.

Singapore overtook the UAE to become India’s second-largest export destination in April, with its share in India’s export basket rising to 7 per cent from 3 per cent a year ago. China and Bangladesh also overtook the Netherlands to become the third- and fourth-largest export destinations, respectively.

The sharp rise in exports to these markets can be largely attributed to the surge in oil prices, as petroleum products are the top exported commodity to many of these economies. The shift towards newer destinations may reflect India’s market diversification strategy, formulated last year amid growing uncertainty in global trade and concerns over steep US tariffs on Indian goods.

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