India's exports to its free trade agreement (FTA) partner nations accelerated sharply in the first quarter of FY 2026-27, with shipments to Singapore and Sri Lanka more than doubling and exports to the ASEAN bloc rising by over 60 per cent, according to Commerce Ministry data. The figures indicate that India's expanding web of preferential trade deals is translating negotiated market access into measurable export momentum on the ground.

Key Export Numbers

Commerce Ministry data show that India's exports to Singapore surged 101.2 per cent year-on-year during April–June 2026, reaching $6.52 billion — up from $3.24 billion in the same period a year earlier. Exports to Sri Lanka performed even more strongly, climbing 123.8 per cent to $2.35 billion from $1.05 billion.

The broader ASEAN region registered a substantial increase as well. Indian shipments to the bloc rose 61.6 per cent to $14.61 billion in Q1 FY 2026-27, compared with $9.04 billion during April–June 2025. Among individual ASEAN members, exports to Malaysia climbed 75.2 per cent to $2.54 billion, while Thailand posted a more modest growth of 6 per cent.

Beyond ASEAN, exports to Australia rose 25.2 per cent to $2.68 billion, South Korea recorded 22.6 per cent growth to $1.95 billion, and Japan gained 22.4 per cent to reach $1.75 billion. Closer to home, shipments to Nepal grew 18.1 per cent to $2.28 billion, exports to Oman rose 26.4 per cent to $1.39 billion, and Bhutan posted 16.1 per cent growth.

Record FY26 Base and FTA Expansion

The quarterly uptick builds on a landmark full-year performance. India recorded its highest-ever combined exports of $863.1 billion in FY 2025-26, comprising merchandise exports of $441.8 billion and services exports of $421.3 billion. That base makes the Q1 FY27 growth rates all the more significant, as they represent acceleration on top of a record year.

Recent trade agreements signed by New Delhi include the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the India-Australia Economic Cooperation and Trade Agreement (ECTA), the India-EFTA Trade and Economic Partnership Agreement (TEPA), the India-Oman CEPA, and the India-UK Comprehensive Economic and Trade Agreement (CETA). India has also concluded an FTA with New Zealand, which remains under ratification, while negotiations with the European Union were concluded in January 2026.

FTAs Deepening Product Diversity, Not Just Volume

Commerce Ministry data also suggest that the agreements are doing more than boosting headline volumes — they are widening the range of products India sells abroad. Under the India-UAE CEPA, which came into force in May 2022, 4.45 lakh Certificates of Origin have been issued. The number of Indian tariff lines exported to the UAE at the HS eight-digit level increased from 7,546 in FY 2021-22 to 8,053 in FY 2025-26, with exports across those lines valued at $37.3 billion.

A similar pattern is visible in Australia. Since the India-Australia ECTA entered into force in December 2022, 2.73 lakh Certificates of Origin have been issued. Indian tariff lines exported to Australia grew from 5,396 in FY 2021-22 to 5,668 in FY 2025-26, with exports across those lines reaching approximately $7.2 billion. Analysts note this diversification matters as much as aggregate growth — it means exporters are entering new product categories, not merely shipping more of what they already sold.

What Comes Next

With the EU trade deal concluded and the New Zealand FTA awaiting ratification, India's preferential trade network is poised to expand further. Exporters and trade bodies will be watching whether the same diversification trends evident in the UAE and Australia replicate in newer partner markets. The sustained Q1 performance sets a high bar heading into the rest of FY 2026-27.