India's Trade Deficit Rises to $21.54B in March as Exports Hit $820.9B

India’s Trade Deficit Rises to $21.54B in March as Exports Hit $820.9BIndia's trade deficit significantly increased to $21.54 billion in March, rising from a three-year low of $14.05 billion in February, influenced by the fluctuations in global trade amid Trump's tariff threats. 

India's merchandise exports for FY25 reached $437.42 billion compared to $437.07 billion in FY24. The nation's total exports of goods and services rose by 5.5 percent to $820.93 billion.

According to a Reuters poll, economists had anticipated that the March trade deficit would increase to $16 billion. Merchandise exports reached $41.97 billion in March, up from $36.91 billion in February, while imports fell to $64.51 billion compared to $50.96 billion the previous month. 

In March 2025, the overall export, comprising both goods and services, rose to $73.61 billion, an increase from $71.71 billion in March 2023. However, the figures indicate a more pronounced rise in imports, with total imports rising to $77.23 billion from $73.63 billion last year. 

The information arrives as US President Donald Trump has disrupted the world with his expanding tariff policy. India is attempting to establish a bilateral trade agreement with the U.S. to avert the consequences of its retaliatory tariffs during the 90-day period in which the tariffs have been suspended. 

Discussing the trade statistics, Commerce Secretary Sunil Barthwal mentioned that the nation has recorded its largest-ever export of non-petroleum goods. He reported that non-petroleum exports have reached a record high of $37.07 billion, reflecting a 6 percent increase from $36.28 billion in 2023-24. 

"Our overall exports will be the highest ever, and they have crossed a threshold of $820 billion. We will be waiting for the final figures of services, but our internal assessment is that it will go even above by two more billion dollars. So it should be a figure of more than $842 billion," Barthwal said