New Delhi\u2019s merchandise exports rose to $38.92 billion in March, while imports fell to $59.9 billion, the government has said<\/p>\n
India\u2019s merchandise trade deficit narrowed sharply to $20.67 billion in March, official data has shown. A Reuters poll of economists had projected a deficit of $32.75 billion for the month.
\nThe March figure is also well below the $27.1 billion in merchandise trade deficit recorded in February.
\nThe marginal improvement was spurred by a combination of higher exports and softer imports amid the Middle East crisis.
\nNew Delhi\u2019s merchandise exports rose to $38.92 billion in March from $36.61 billion in February, according to government data.
\nImports declined to $59.9 billion from $63.71 billion a month ago.<\/p>\n
India\u2019s total exports (merchandise & services) are estimated to reach a new record high of US$ 860.09 Billion in FY 2025\u201326. Merchandise exports stood at US$ 441.78 Billion, reflecting steady growth. Notably, March 2026 recorded the highest monthly merchandise exports of the year\u2026 pic.twitter.com\/aGsG2wLqVZ\u2014 Dept of Commerce, GoI (@DoC_GoI) April 15, 2026 <\/p>\n
The outlook remains challenging as the South Asian nation depends on Gulf shipping routes, exposing it to supply disruptions and cost escalations arising from the geopolitical tensions in the Middle East.
\nThe US said its military had halted maritime trade linked to Iran on Wednesday, though President Donald Trump has claimed he is \u201cpermanently opening\u201d the Strait of Hormuz, offering confusing signals on the shape of the conflict.<\/p>\n
Read more<\/p>\n
China overtakes US as India\u2019s largest trading partner<\/p>\n
India\u2019s combined exports of goods and services are estimated to have risen 4.22% year-on-year to around $860 billion in 2025-26, Commerce Secretary Rajesh Agrawal said on Tuesday.
\nNew Delhi\u2019s services exports in the fiscal year were pegged at $418.31 billion, and merchandise exports were estimated at $441.78 billion.
\nIndia\u2019s trade surplus with the US narrowed to $34.4 billion in fiscal year 2026 from $43 billion a year ago. Exports to the US rose 1% to $87 billion, while imports from the country jumped 16% to $53 billion.
\nIndia and the US are in advanced talks to convert a February 26 joint statement into a bilateral trade deal, Commerce Secretary Rajesh Agrawal said in a post on X.<\/p>\n
He added that New Delhi and Washington are finalizing mutual concessions, and meetings are scheduled from April 20 to work toward the structure and timelines of a trade deal.
\nChina became India\u2019s largest trading partner in the 2025-26 financial year, overtaking the US, Beijing\u2019s embassy in New Delhi said earlier this month.
\nWashington was New Delhi\u2019s largest trading partner for four years in a row until 2024-25.<\/p>\n","protected":false},"excerpt":{"rendered":"
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