India’s trade deficit widens to $21.54 bn in March on higher imports

India’s trade deficit widened to $21.54 billion in March 2025, as imports surged at a faster pace than exports, according to government data released on Monday.

Merchandise exports rose marginally by 0.7% to $41.97 billion in March as compared to $41.69 billion in the same month last year. However, imports jumped 11.3% to $63.51 billion from $57.03 billion in March 2024, widening the trade gap to $21.54 billion.

For the full financial year 2024-25, India’s merchandise exports stood at $437.42 billion, slightly higher than $437.07 billion recorded in 2023-24.

The country's overall exports of goods and services increased by 5.5% to $820.93 billion.