India's merchandise trade deficit narrows to $14.05 billion in February

India's merchandise trade deficit in February was much lower than expected due to a lower imports, government data showed on Monday.

Merchandise trade deficit for March was $14.05 billion, compared with economists' forecast of $21.65 billion, according to a Reuters poll.

Merchandise exports stood at $36.91 billion in February against $36.43 billion in January, while imports were lower at $50.96 billion compared with $59.42 billion in the month prior.

Services exports in February were estimated at $35.03 billion and imports at $16.55 billion against $38.55 billion and $18.22 billion, respectively, in January.