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Informist, Tuesday, Apr. 15, 2025

 

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--India Mar merchandise exports $41.97 bln vs $41.69 bln year ago 
--India Mar merchandise imports $63.51 bln vs $57.03 bln year ago 
--India Mar merchandise trade deficit $21.54 bln vs vs $15.33 bln year ago 
--India FY25 merchandise exports $437.42 bln vs $437.07 bln year ago 
--India FY25 merchandise imports $720.24 bln vs $678.21 bln year ago 
--India FY25 merchandise trade deficit $282.82 bln vs $241.14 bln yr ago 
--Govt: India Mar services trade exports $31.64 bln vs $30.01 bln year ago 
--Govt: India Mar services trade imports $13.73 bln vs $16.60 bln year ago 
--Govt: India Mar services trade surplus $17.91 bln vs $13.41 bln year ago

 

NEW DELHI – India's merchandise trade deficit widened to $21.54 billion in March from a 42-month low of $14.05 billion in February due to a sharp rise in imports, data from the commerce ministry showed Tuesday. The trade deficit was $15.33 billion in March 2024. 

 

Goods imports rose 11.4% on year to $63.51 billion in March, while exports were up just 0.7% at $41.97 billion. Compared with February, imports were up nearly 25%, while exports increased nearly 14%. 

 

After the March data, the government has formed an 'Inter-Ministerial Committee for Import Surge Monitoring', which includes representations from the finance ministry's revenue department, in addition to the trade ministry officials, the commerce department said Tuesday. The panel would also consult officials from other ministries as and when required, the department said, adding that Commerce Secretary Sunil Barthwal would oversee the committee's report.  

 

For 2024-25 (Apr-Mar), the trade deficit increased to $282.82 billion from $241.14 billion in FY24. Merchandise exports during FY25 were nearly flat compared with the previous year at $437.42 billion, while imports increased 6.2% to $720.24 billion. 

 

India's services exports in March rose to $31.64 billion from $30.01 billion a year ago, according to the commerce ministry's provisional data. With services imports falling 17.3% to $13.73 billion in March, India had a trade surplus of $17.91 billion. The Reserve Bank of India would further update services trade data by the end of April.  End

 

US$1 = INR 85.77

 

Reported by Shubham Rana and Krity Ambey

Edited by Akul Nishant Akhoury

 

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