India's merchandise exports hit a record $49.47 billion in October, rising 45% year-on-year, but a 16.5% increase in imports pushed the trade deficit beyond expectations to $39.88 billion. Merchandise exports in October 2026 stood at $49.47 billion dollar, up 45% on-year. And merchandise imports stood at $89.35 billion, up 16.5%. India’s merchandise trade deficit surged to $39.88 billion in October, its highest level in a year, as imports jumped to $89.35 billion.