India’s goods exports to China surged 20 per cent year-on-year in the first four months of Financial Year (FY) 26, touching $5.76 billion (about Rs 50,112 crore), according to official data. Each of the four months recorded higher outbound shipments compared to the same period last year, underscoring a steady upward trend despite global trade headwinds.
Exports peaked in May 2025 at $1.63 billion, up from $1.32 billion in the same month a year ago, marking the strongest monthly performance in the period. In April, shipments rose to $1.39 billion from $1.25 billion a year earlier, while June exports grew 17 per cent year-on-year to $1.38 billion
In July, India exported goods worth $1.35 billion, up from $1.06 billion in the corresponding month a year earlier. The growth momentum highlights a gradual rebalancing of trade between the two Asian economies. India has historically run a high trade deficit with China, which stood at $99.2 billion in FY25.
The April–June quarter of FY26 saw exports to China buoyed by strong demand across energy, electronics, and agri-based products. Petroleum product exports nearly doubled to $883 million, while electronic goods surged over threefold to $521 million.
Exports of organic and inorganic chemicals climbed 16.3 per cent to $335.1 million, and gems and jewellery shipments rose sharply by 72.7 per cent. On the other hand, India’s top imports from China continued to include pharmaceuticals, semiconductors, electronics, machinery, chemicals, plastics, and other industrial goods.
The sustained month-on-month gains over last year underscore India’s strengthening trade performance with China and rising export competitiveness, even as the variations reflect global trade dynamics and seasonal demand shifts.
Chinese Foreign Minister Wang Yi and External Affairs Minister S. Jaishankar had extensive bilateral discussions in New Delhi earlier this month. The talks, which covered bilateral, regional, and international issues of shared concern, were described as “positive, constructive, and forward-looking” by the Ministry of External Affairs.
