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Informist, Friday, May 15, 2026

 

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--India Apr merchandise exports $43.56 bln vs $38.28 bln year ago
--India Apr merchandise imports $71.94 bln vs $65.38 bln year ago 
--India Apr merchandise trade deficit $28.38 bln vs $27.10 bln year ago
--Govt: India Apr services trade exports $37.24 bln vs $32.85 bln year ago
--Govt: India Apr services trade imports $16.66 bln vs $16.91 bln year ago
--Govt: India Apr services trade surplus $20.58 bln vs $15.94 bln year ago
--India Apr non-oil imports $53.32 bln vs $44.68 bln year ago
--India Apr imports from Russia $7.36 bln vs $6.23 bln year ago
--India Apr imports from US $5.27 bln vs $5.53 bln year ago
--India Apr exports to US $8.48 bln vs $8.38 bln year ago
--India Apr exports to China $1.77 bln vs $1.39 bln year ago
--India Apr oil imports $18.63 bln vs $20.70 bln year ago
--India Apr electronic goods imports $12.78 bln vs $9.25 bln year ago
--India Apr gold imports $5.63 bln vs $3.10 bln year ago
--India Apr engineering goods exports $10.35 bln vs $9.52 bln year ago
--India Apr petroleum product exports $9.59 bln vs $7.12 bln year ago
--India Apr electronic goods exports $5.18 bln vs $3.69 bln year ago
--Trade secy: Higher duty on gold to lead to lower imports
--Trade secy: Consumption-based need for gold should go down post duty hike
--Trade secy: Diversification helping export growth despite West Asia war
--Trade secy: Too early to say if rupee fall impacting rupee settlement
--Trade secy: To ink trade pact with US at an opportune time
--Trade secy: Effort will be to increase exports to $1 tln in FY27
--Trade secy: Expect US team to visit India for trade talks soon

 

NEW DELHI – India's merchandise trade deficit widened in April to a three-month high as imports surged. According to data detailed by the commerce ministry Friday, India's trade deficit rose 4.7% on year to $28.38 billion in April. The trade deficit widened even as exports during the month were the highest in over four years. 

 

The April trade deficit was sharply higher than $20.67 billion in March. Economists had expected the trade deficit to be around $27 billion to $30 billion in April.

 

Goods exports rose 13.8% on year to $43.56 billion in April, highest since March 2022. India's imports jumped 10% to $71.94 billion last month, highest since October 2025. Energy imports took a hit due to the war in West Asia. In March, India exported goods worth $38.92 billion and imported goods worth $59.59 billion. 

 

The services trade surplus grew 29.1% on year to $20.58 billion in April, mainly due to 13% rise in services exports to $37.24 billion. Services trade imports fell 1.5% on year to $16.66 billion last month.

 

Overall trade--goods and services--deficit narrowed 30% on year to $7.81 billion in April, with overall imports growing 7% on year to $88.61 billion. Overall exports also rose 13.6% on year to $80.80 billion in April.

 

India imported oil worth $18.63 billion last month, lower than $20.70 billion a year ago. Non-oil imports increased to $53.32 billion in April from $44.68 billion in the corresponding month a year ago.

 

Within non-oil imports, gold shipments rose to $5.63 billion in April, up from $3.10 billion a year ago. Electronic goods imports surged to $12.78 billion last month from $9.25 billion a year ago.

 

The government expects that the hike in import duty on gold will lower India's imports, Commerce Secretary Rajesh Agrawal said at a press conference. The consumption-based need for gold should reduce after the government raised the import duty on gold and silver imports to 15% from 6%, Agrawal said.

 

China was India's biggest import source nation in April, with goods imports worth $11.97 billion, up from $9.91 billion a year ago. Imports from Russia rose to $7.36 billion last month from $6.23 billion in April 2025. Imports from the US slipped nearly 5% to $5.27 billion in April.

 

Exports to the US rose 1.1% on year to $8.48 billion in April. Surprisingly, exports to Singapore jumped nearly three-fold to $3.20 billion in April, while shipments to China increased 27% on year to $1.77 billion last month. 

 

India's non-oil exports rose 9% on year to $33.97 billion in April. Within non-oil exports, engineering goods exports rose to $10.35 billion in April from $9.52 billion a year ago. Electronic goods exports grew 40% on year to $5.18 billion last month. India's petroleum product exports rose to $9.59 billion last month from $7.12 billion a year ago.

 

Asked about the India-US trade deal, Agrawal said India will sign the trade pact with the US at an opportune time. He said the US team is expected to visit India for trade talks soon.

 

"We have engaged with US on Section 301 investigations. Submissions have been made in that direction and we joined consultations yesterday in US," Agrawal said. "On the trade deal, we are well engaged and we are working together to see that whenever there is an opportune time and we have an opportunity, we are able to ink that agreement and take it forward." 

 

Further, Agrawal iterated the government's target to increase India's exports to $1 trillion in 2026-27 (Apr-Mar). On Wednesday, Commerce and Industry Minister Piyush Goyal said the government is targeting $1 trillion of exports in the current financial year, up from $863 billion in FY26.

 

Asked if the rupee's fall against the dollar has affected the Indian currency's acceptance for international trade settlement, Agrawal said it is too early to assess this. "We will have to look at data. Two, the INR (rupee) settlement is something that we have been nudging for the last few years and we are at a stage where we should not get into any guestimation of whether this rupee-dollar exchange rate is having impact on that," the secretary said. The rupee has declined sharply in recent months and fell to a lifetime low of 96.14 against the dollar Friday.  End

 

US$1 = INR 95.96

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Shubham Rana, Shweta, and Priyasmita Dutta

Edited by Tanima Banerjee

 

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