Imports up 19% in January as India's trade deficit widens to $34.68 bn

India's trade deficit widened sharply in January as imports surged on higher gold and silver inflows, while merchandise exports rose only 0.6% amid global economic uncertainties

India’s merchandise exports rose 0.6 per cent year-on-year to $36.56 billion in January, amid global economic uncertainties, data released by the commerce department showed.

 

Inbound shipments saw 19 per cent growth to $71.24 billion due to a surge in gold and silver imports. The trade deficit widened to $34.68 billion compared to $23.43 billion in January 2025 and $25 billion in December.

 

Commerce Secretary Rajesh Agrawal said that merchandise and services exports have remained in the positive territory. “We will be nearing $860 billion overall exports in the current fiscal,” Agrawal told reporters in a briefing on Monday.

 

 

Cumulative exports, including merchandise and services (April–January), rose 6.15 per cent to $720.76 billion.