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Informist, Wednesday, Apr. 15, 2026

 

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--India FY26 merchandise exports $441.71 bln vs $437.70 bln FY25 
--India Mar merchandise exports $38.92 bln vs $42.05 bln year ago 
--Trade secy: Exports to West Asia in March down 57% 
--India Mar merchandise imports $59.59 bln vs $63.74 bln year ago 
--India Mar merchandise trade deficit $20.67 bln vs $21.69 bln year ago 
--India FY26 merchandise trade deficit $333.2 bln vs $283.50 bln FY25 
--India FY26 merchandise imports $774.98 bln vs $721.20 bln FY25 
--India FY26 services exports $418.31 bln vs $387.55 bln FY25 
--India FY26 services imports $204.42 bln vs $198.72 bln FY25 
--India FY26 services trade surplus $213.89 bln vs $188.83 bln FY25 
--India FY26 gold imports $71.98 bln vs $58.01 bln FY25 
--India FY26 non-oil exports $387.88 bln vs $374.32 bln FY25 
--India FY26 non-oil imports $601.03 bln vs $535.42 bln FY25 
--India FY26 imports from China $131.63 bln vs $113.45 bln FY25 
--India FY26 imports from Russia $55.37 bln vs $63.81 bln FY25 
--India FY26 imports from US $52.97 bln vs $45.63 bln FY25 
--India FY26 exports to US $87.31 bln vs $86.51 bln FY25 
--India FY26 exports to China $19.48 bln vs $14.25 bln FY25 
--India FY26 oil imports $173.95 bln vs $185.78 bln FY25 
--India FY26 electronic goods imports $116.18 bln vs $98.65 bln FY25 
--India FY26 engineering goods exports $122.43 bln vs $116.75 bln FY25 
--India FY26 petroleum product exports $53.91 bln vs $63.38 bln FY25 
--India FY26 electronic goods exports $47.96 bln vs $38.56 bln FY25 
 

 

NEW DELHI – India's merchandise trade deficit narrowed in March as the ongoing war in West Asia disrupted trade across the region. According to data detailed by the commerce ministry Wednesday, India's trade deficit fell to $20.67 billion in March from $21.69 billion a year ago. The trade deficit was $27.10 billion in February.

 

Goods exports were down over 7% from a year ago at $38.92 billion in March, and imports fell 6.5% on year to $59.59 billion last month. Commerce Secretary Rajesh Agrawal said that India's exports to West Asia fell around 57% in March.

 

In 2025-26 (Apr-Mar), the merchandise trade deficit widened to $333.2 billion from $283.50 billion a year ago. India exported goods worth $447.7 billion in FY26, up from $437.7 billion a year ago. Goods imports rose 7.5% in FY26 to $774.98 billion.

 

Overall exports, goods and services included, reached $860.09 billion in FY26, in line with the government's expectation and higher than $825.26 billion in FY25.

 

The government estimates services trade exports at $35.20 billion in March, down 1.2% on year. Services trade imports fell 3% on year to $16.96 billion last month. India recorded a services trade surplus of $18.24 billion in March, a tad higher than a surplus of $18.15 billion a year ago.

 

The services trade surplus rose in FY26 to $213.89 billion with services trade exports at $418.31 billion, up 8% on year. Services trade imports rose 3% on year to $204.42 billion in FY26. 

 

Agrawal said exports to West Asia may be continue to be impacted in April as well. But the government does not see challenge on overall exports despite the war, the secretary said at a press conference.

 

India imported oil worth $173.95 billion in FY26, lower than $185.78 billion a year ago. Non-oil imports increased to $601.03 billion last financial year from $535.42 billion in FY25. 

 

Within non-oil imports, gold shipments increased to $71.98 billion in FY26 from $58.01 billion a year ago. Electronic goods imports jumped sharply in FY26 to $116.18 billion from $98.65 billion a year ago.

 

China was India's biggest import source nation in FY26, with goods imports worth $131.63 billion, up from $113.45 billion a year ago. Imports from Russia eased in FY26 to $55.37 billion from $63.81 billion a year ago. Imports from the US increased to $52.90 billion in FY26 from $45.63 billion a year ago.

 

India's non-oil exports rose to $387.88 billion in the financial year ended March, from $374.32 billion a year ago. Outbound shipments to the US rose slightly to $87.31 billion in FY26, from $86.51 billion a year ago. India's exports to China rose to $19.48 billion in FY26, from $14.25 billion a year ago.

 

Among the top exported commodities, India's engineering goods exports rose to $122.43 billion in FY26 from $116.75 billion a year ago. Exports of petroleum products declined to $53.91 billion last year from $63.38 billion in FY25. Exports of electronic goods rose to $47.96 billion in FY26 from $38.56 billion a year ago.  End

 

US$1 = INR 93.37

 

Reported by Krity Ambey, Shweta, and Shubham Rana

Edited by Akul Nishant Akhoury

 

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