India’s exports grew by 4.22 per cent to USD 860.09 billion in the financial year 2025–26, while imports rose at a faster pace of 6.47 per cent to around USD 970 billion, resulting in a widening of the overall trade deficit, according to data shared by Commerce Secretary Rajesh Agrawal.
The data shows that total exports increased from USD 825.26 billion in 2024–25 to USD 860.09 billion in 2025–26. Meanwhile, imports rose from USD 919.92 billion in the previous financial year to approximately USD 970 billion.
Consequently, the overall trade deficit (merchandise and services combined) widened to USD 119.30 billion in 2025–26, compared to USD 94.66 billion in 2024–25.
Merchandise exports recorded a modest increase to USD 441.78 billion from USD 437.70 billion in the previous year. However, merchandise imports rose more sharply to USD 774.98 billion from USD 721.20 billion, reflecting higher inbound shipments.
Services exports remained a strong pillar of India’s external trade, rising to USD 418.31 billion in 2025–26 from USD 387.55 billion in 2024–25. Services imports also increased slightly to USD 204.42 billion from USD 198.72 billion.
Trade excluding petroleum and gems and jewellery remained relatively balanced. Exports in this category rose to USD 777.98 billion from USD 732.05 billion, while imports increased to USD 702.98 billion from USD 653.31 billion. However, the trade surplus narrowed marginally by USD 3.74 billion to USD 75.00 billion from USD 78.74 billion.
Among key commodities, gold imports saw a rise in value despite a decline in quantity. The value of gold imports increased from USD 58.01 billion in 2024–25 to USD 71.98 billion in 2025–26, while the quantity fell from 757.09 tonnes to 721.03 tonnes. This indicates that the increase was largely driven by higher prices, with the unit value rising from USD 76,617.48 per kg to USD 99,825.38 per kg.
Silver imports, on the other hand, registered a sharp increase in both value and volume. The value surged from USD 4.83 billion to USD 12.05 billion, while the quantity rose from 5,164.37 tonnes to 7,334.96 tonnes. The unit value also increased significantly, from USD 934.72 per kg to USD 1,642.93 per kg.
(ANI)
