ASEAN, Africa Lead India's Export Growth in First Two Months of FY27

Asean and African regions emerged as the biggest contributors to India's export growth during the first two months of the current fiscal, according to the commerce ministry data.

During April-May 2026-27, exports rose 16.09% year-on-year to $88.91 billion.

The data showed that the country's exports to Asean (Association of South East Asian nations) jumped 66.9% to $10.5 billion from $6.3 billion a year ago, while shipments to Africa surged 53.1% to $9.6 billion from $6.3 billion.

Together, these two regions have added over $7.6 billion in exports compared with the corresponding period of the previous fiscal, accounting for a significant share of India's overall export expansion.

Further, despite modest growth, NAFTA (US, Canada and Mexico) remained India's largest export destination with shipments rising 2.6% to $19.3 billion from $18.8 billion, while exports to Europe increased 4% to $17 billion from $16.4 billion.

Exports to North East Asia also recorded robust growth of 30.7% to $8.3 billion, while South Asia registered a 40.2% rise to $6.1 billion.

Similarly, shipments to Latin America and the Caribbean (LAC) grew 12.5% to $3 billion, Oceania (Australia and New Zealand) recorded a 29% increase to $2.1 billion, and exports to the CIS (commonwealth of independent states) countries rose 7.7% to $1.1 billion.

CIS nations include Russia, Armenia, Belarus, and Kazakhstan.

The data indicated that regions outside north America and Europe now account for more than half of India's exports, underscoring the country's strategy of diversifying export destinations amid global economic uncertainties.

India's total exports of goods and services during April-May FY27 were estimated at $162.69 billion, up 14.66% over the year-ago period.