Engineering exports surge

India’s engineering goods exports rose 12.9% year-on-year to $10.36 billion in February 2026. Shipments grew to 17 of 25 key markets, with exports to China more than doubling to $436 million. US shipments fell 4.9% to $1.57 billion. In the UAE, the second-largest market, sales declined 14% year-on-year. 

The strong February performance, however, predates the West Asia crisis. March data is expected to show a sharp reversal. India’s overall merchandise exports slipped 0.8% to $36.6 billion in February and the trade deficit nearly doubled to $27.1 billion. Imports surged 24.1% — the fastest pace in 42 months. ICRA has warned that every $10/barrel rise in crude widens the current account deficit by 30-40 basis points. The West Asia region accounts for 14% of India’s exports and 20% of its imports, as per a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!