India's exports hit record $863 billion, remittances reach $110 billion in FY26

India’s total exports more than doubled over the past decade, climbing from $468 billion in FY 2014‑15 to a record $863 billion in FY 2025‑26. Merchandise exports rose to $442 billion and services exports surged to $421 billion, driven by a series of free‑trade agreements including the India‑EFTA partnership, the India‑EU FTA, and CEPA deals with the UAE and Mauritius. Officials highlighted that these agreements give duty‑free access to roughly 98‑99% of India’s export basket, supporting sectors such as textiles, engineering goods, pharmaceuticals and food processing.

In the same fiscal year, Indians working abroad sent a record $110.47 billion home, a 26% increase over the previous year. Quarterly data showed a 34% jump to $31.07 billion in Q1 2026, helped by higher transfers amid the West Asia conflict and a weaker rupee. While Gulf‑region remittances have fallen as a share of total inflows, contributions from advanced economies like the US and the UK have risen. The large inflow helped secure a $7.22 billion balance‑of‑payments surplus, offsetting weaker foreign‑direct investment and portfolio flows.