India's Trade Snapshot: March Deficit Widens Amid Robust Export and Import Activity

India’s merchandise trade deficit for March 2025 widened to $21.54 billion, exceeding the poll estimate of $16 billion. The Trade Ministry reported merchandise imports at $63.51 billion and exports at $41.97 billion for the month, reflecting strong activity in global trade despite economic uncertainties.  

 

For the fiscal year 2025, India’s merchandise exports reached $437.42 billion, showcasing resilience and growth in key sectors such as engineering goods, petroleum products, and textiles. Meanwhile, merchandise imports stood at $720.24 billion, driven by demand for crude oil, electronic goods, and machinery.  

 

India’s services trade surplus for March was calculated at $17.91 billion, highlighting the country’s strength in IT services, business process outsourcing, and financial services. The services sector continues to play a pivotal role in balancing the trade deficit and contributing to overall economic stability.  

 

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Sources: Trade Ministry, Reuters, Economic Times