India's trade deficit stood at $16.5bn a year ago and exports also shrunk by 2.4% year-on-year to $36.43bn in January. Meanwhile, India's value of imports spiked by 10% to $59.4bn during the period

India said on Monday that bilateral merchandise trade with the United States has increased by about 8% to more than $106 billion in the ten months through January and a proposed trade pact between the two countries will further benefit both.

India’s merchandise trade deficit expanded to $22.99 billion in January 2025, surpassing market forecasts of $21.0 billion, reported ANI. This represents a rise from $21.94 billion in December 2024 and $16.56 billion in January 2024 and was largely driven by a fall in exports and a modest increase in imports amidst global economic uncertainty.

India’s trade deficit widened in January 2025, with imports rising 10.3% year-on-year, exceeding the median forecast of $21 billion.

India's merchandise trade deficit in January stood at $22.99 billion, according to a Reuters calculation based on export and import data released by the government on Monday. Economists had expected the January trade deficit to be $22.

The widening of India's merchandise trade deficit can be attributed to a decline in exports and a marginal rise in imports amid prevailing global economic uncertainty. India's merchandise trade deficit surged to USD 22.