economy
April 17, 2026
India's trade deficit narrows to $20.67 billion in March
India's trade deficit fell to $20.67 billion in March as exports rose and imports declined, though Middle East tensions cloud outlook and supply chains
TL;DR
- India's merchandise trade deficit narrowed to $20.67 billion in March.
- Exports rose to $38.92 billion and imports declined to $59.9 billion in March.
- The Middle East crisis poses a risk to India's trade due to its dependence on Gulf shipping routes.
- India's combined exports of goods and services are estimated to reach $860 billion in 2025-26.
- India and the US are in advanced talks for a bilateral trade deal.
- China has become India's largest trading partner in the 2025-26 financial year.
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