Share of petroleum products in India’s total exports slips to decade low

The share of petroleum products in India’s total export basket slipped to 8.8% in the fiscal year 2025-26, marking its lowest level in over 10 years. This downward trend highlights structural shifts within the nation’s trade dynamics, driven by a combination of suppressed global fuel prices last year and a substantial surge in domestic energy consumption that restricted exportable surpluses. The dip reflects a wider transformation as non-oil sectors, particularly electronics and engineering goods, capture a larger share of the outbound trade footprint. While recent spikes in international oil prices have triggered a short-term value rebound in early fiscal 2026-27 shipments, the over-reliance on fuel exports has visibly eased. Consequently, the government is capitalising on this diversification to stabilise the trade balance and insulate the broader economy from volatile global energy shocks, according to a report.

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