More Stories

Informist, Monday, Mar. 16, 2026

 

Please click here to read all liners published on this story

--India Feb merchandise exports $36.61 bln vs $36.91 bln year ago 
--India Feb merchandise imports $63.71 bln vs $51.33 bln year ago
--India Feb merchandise trade deficit $27.10 bln vs $14.42 bln year ago
--Trade secy: Goods imports rose in Feb on high gold, silver shipments 
--Govt: India Feb services trade exports $39.53 bln vs $31.65 bln year ago 
--Govt: India Feb services trade imports $16.38 bln vs $14.51 bln year ago
--Govt: India Feb services trade surplus $23.15 bln vs $17.14 bln year ago
--India Apr-Feb merchandise imports $713.53 bln vs $657.46 bln year ago
--India Apr-Feb merchandise exports $402.93 bln vs $395.66 bln year ago
--India Apr-Feb merchandise trade deficit $310.6 bln vs $261.80 bln year ago 
--India Apr-Feb non-oil imports $551.75 bln vs $490.69 bln year ago 
--India Apr-Feb non-oil exports $354.12 bln vs $337.17 bln year ago 
--India Apr-Feb imports from Russia $51.17 bln vs $58.30 bln year ago 
--India Apr-Feb imports from US $48.41 bln vs $41.86 bln year ago 
--India Apr-Feb imports from China $119.56 bln vs $103.77 bln year ago 
--India Apr-Feb exports to US $79.29 bln vs $76.36 bln year ago 
--India Apr-Feb exports to China $17.54 bln vs $12.74 bln year ago 
--India Apr-Feb oil imports $161.78 bln vs $166.77 bln year ago 
--India Apr-Feb gold imports $68.91 bln vs $53.53 bln year ago 
--India Apr-Feb electronic goods imports $104.92 bln vs $89.23 bln year ago 
--India Apr-Feb petroleum product exports $48.81 bln vs $58.49 bln year ago 
--India Apr-Feb electronic goods exports $43.56 bln vs $34.00 bln year ago 
--Trade secy: March likely to be challenging in terms of trade

--Trade secy: March exports impacted by West Asia conflict 

--Trade secy: Aim to end FY26 with $860 billion in total exports

 

 

NEW DELHI – India's merchandise trade deficit widened in February on the back of higher gold and silver imports, according to data detailed by the commerce ministry Monday. The trade deficit widened to $27.10 billion in February from $14.42 billion a year ago.

 

Goods exports were a tad down from a year ago at $36.61 billion in February, while imports jumped over 24% on year to $63.71 billion last month. In January, India exported goods worth $36.56 billion and imported goods worth $71.24 billion, according to provisional data released on Feb. 16. The trade deficit was $34.68 billion in January.

 

The goods and services imports into the country rose in February due to high gold and silver shipments, Commerce Secretary Rajesh Agrawal said at a press conference. Agrawal said March is likely to be a challenging month in terms of trade, marred by the ongoing US-Israel war on Iran, which has hit cargo movement through the Strait of Hormuz. Imports this month are already being impacted because of the conflict in West Asia, the secretary said.

 

India's merchandise exports during the first eleven months of 2025-26 (Apr-Mar) rose 1.84% on year to $402.93 billion from $395.66 billion in the same period of FY25. India imported goods worth $713.53 billion in Apr-Feb, 8.53% higher from $657.46 billion in the same period last year. The trade deficit during Apr-Feb was $310.60 billion, higher than $261.80 billion a year ago.

 

The government expects to end FY26 with overall exports of $860 billion, Agrawal said. Last month, the secretary had said the overall exports may be around $850 billion in FY26. India's merchandise and services exports rose 5.8% on year to $790.86 billion in Apr-Feb.

 

The government estimates services trade exports at $39.53 billion in February, up 25% on year. Services trade imports rose 13% on year to $16.38 billion last month. India recorded a services trade surplus of $23.15 billion in February, higher than a surplus of $17.14 billion a year ago.

 

India imported oil worth $161.78 billion during Apr-Feb, down from $166.77 billion a year ago. Non-oil imports increased to $551.75 billion in the 11 months to February from $490.69 billion a year ago.

 

Within non-oil imports, gold shipments increased to $68.91 billion in Apr-Feb from $53.53 billion a year ago. Electronic goods imports, too, jumped sharply in Apr-Feb to $104.92 billion from $89.23 billion a year ago.

 

China remained the biggest import source nation in Apr-Feb. India imported goods worth $119.56 billion from China in Apr-Feb, up from $103.77 billion a year ago.

 

Imports from Russia eased to $51.17 billion in Apr-Feb from $58.30 billion a year ago. Imports from the US, on the other hand, rose to $48.41 billion in Apr-Feb from $41.86 billion a year ago.

 

On Feb. 2, the US and India finalised an interim trade deal. As part of the trade deal, the US lowered reciprocal tariffs on Indian goods to 18% from 25% and also scrapped the 25% penal tariff levied on India for buying crude oil from Russia. However, the two countries are yet to sign a final agreement on the same. There is no further update on the signing of the India-US interim trade deal after the US Supreme Court struck down most of US President Donald Trump's tariffs and noted that Trump exceeded his authority when imposing sweeping import duties on nearly all of Washington's trading partners.

 

India's non-oil exports rose to $354.12 billion in the current financial year till February, from $337.17 billion a year ago. The outbound shipment to the US grew to $79.29 billion in Apr-Feb, from $76.36 billion a year ago. India's exports to China rose to $17.54 billion in the first eleven months of FY26, from $12.74 billion a year ago.

 

Among the top 10 exported commodities, India's engineering goods exports in Apr-Feb rose to $111.49 billion, from $105.94 billion a year ago. Exports of petroleum products declined to $48.81 billion in the 11 months to February, from $58.49 billion a year ago. Exports of electronic goods rose to $43.56 billion in Apr-Feb from $34.00 billion a year ago.  End

 

US$1 = INR 92.41

 

Reported by Krity Ambey and Shweta

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.