India’s goods trade deficit was right down to a 42-month low of $14.05 billion as imports of gold, silver and crude dipped in February 2025, in response to knowledge from the Ministry of Commerce and Industry. The distinction between import and export of goods was $22.9 billion in January 2025. In February 2024, the merchandise trade deficit stood at $19.5 billion.
India’s gold and silver imports had been at $2.7 billion, which is the bottom since June 2024, when the worth was $2.5 billion. As for crude and petroleum, imports had been at $11.89 billion which was the bottom since July 2023, when the worth was at $11.81 billion.
India exported goods value $36.9 billion in February 2025. Imports, nevertheless, slipped to a 22-month low of $50.9 billion.
On a year-on-year foundation, exports dipped 10.84% in February 2025. “A portion of the YoY decline in merchandise exports can be attributed to the base year effect related to the leap month,” Aditi Nayar, chief economist at credit standing company ICRA, wrote in her assertion. Imports nevertheless shrunk 16.3% within the reporting month as in opposition to the identical interval final yr.
“The trade deficit was also significantly lower than the average of over $23 billion during the first 10 months of FY2025. Given this, we now expect the current account to witness a surplus of around $5 billion in Q4 of FY2025, equivalent to around 0.5% of the GDP, in the ongoing quarter,” stated Ms. Nayar.
India exported companies value $35.03 billion and imported companies value $16.55 billion in February 2025. These numbers had been $28.33 billion and $15.23 billion respectively in February 2024.
The trade knowledge assumes significance at a time when India’s foreign money is depreciating and uncertainties persist from U.S. trade coverage. “India is proactively engaged with the U.S. to address concerns of both countries and expand trade to $500 billion,” Trade Secretary Sunil Barthwal stated.
(With inputs from Reuters)
Published – March 17, 2025 09:59 pm IST
