West Asia war causes 57.9% drop in India's goods exports, 51.64% drop in goods imports from region

The ongoing West Asia conflict has extracted a toll on India's trade with the region during March 2026, as India’s goods exports to the region dropped 57.9% to $2.5 billion last month while imports from the war-torn region dipped 51.64% to $8.7 billion.Data from India's Department of Commerce indicated that imports from the UAE, Iraq, Qatar, and Saudi Arabia in March declined 66.32%, 64.30%, 47.89%, and 37.32%, respectively in March 2026.Labour-intensive goods exports took a hit in the war-torn month as gems and jewellery exports dropped 30%, exports of readymade garments, drugs and pharmaceuticals dropped 19%, while exports of edible products like rice, spices, fruit and vegetables, cashew and meat and dairy products also took a hit.Overall non-petroleum and non-gems & jewellery exports in March 2026 dropped to $31.69 billion, compared to $34.25 billion in March 2025. Overall exports of textiles and apparel dropped 14.02% in March 2026.For FY 2025-26, higher prices propelled ...