New Delhi: In March 2025, India's trade deficit surged to $3.63 billion, a significant rise from $1.92 billion in the same month of 2024, as reported by government data released on Tuesday.
The trade gap expanded to $21.54 billion in March, increasing from a three-year low of $14.05 billion recorded in February.
According to the government data, India's total exports, encompassing both merchandise and services, demonstrated consistent growth in March 2025, with year-on-year increases in both exports and imports.
The official figures indicate that total exports, which include merchandise and services, rose to $73.61 billion in March 2025, compared to $71.71 billion in March 2024.
This growth underscores the ongoing strength in key economic sectors.
The data also reveals a more pronounced rise in imports, with total imports increasing to $77.23 billion from $73.63 billion a year earlier.
While the rise in trade activity suggests robust economic momentum, the widening trade deficit emphasizes the importance of enhancing exports and managing reliance on imports, especially in vital sectors.
Regarding the trade statistics, Commerce Secretary Sunil Barthwal noted that the country has achieved its highest-ever export levels for non-petroleum merchandise.
He announced that non-petroleum exports have reached a record high of $37.07 billion, reflecting a 6.0 percent increase from $36.28 billion in 2023-24.
"Our total exports are set to reach an all-time high, surpassing $820 billion. While we await the final service figures, our internal estimates suggest they may exceed this by an additional two billion dollars, bringing the total to over $842 billion," stated Commerce Secretary Sunil Barthwal.
In comparison to last year's total of $770 billion, this represents an increase of more than $42 billion, which he described as a significant achievement.
"A recent evaluation has pointed out the potential risk of merchandise dumping into India due to reciprocal tariffs amid ongoing trade tensions. Increasing costs in the US may lead exporters from nations such as China, Vietnam, and Indonesia—who are experiencing trade deficits with the US—to redirect their goods to India, which could result in a surge of imports. Certain products are particularly at risk of being dumped in India," the Commerce Secretary noted.
Regarding US tariffs, Barthwal mentioned that an Inter-Ministerial Committee has been established to monitor import surges, comprising representatives from the Department of Commerce, DGFT, CBIC, and DPIIT.
He also indicated that this Inter-Ministerial Committee (IMC) is actively tracking import trends on a weekly and monthly basis, categorized by commodities and countries.
