India exported goods worth $41.97 billion during March, up 0.67 per cent as compared to the same period a year ago, despite geopolitical uncertainties and the ongoing global trade war.
Imports witnessed 11 per cent growth year-on-year at $63.51 billion, according to data released by the Department of Commerce on Monday.
The trade deficit widened to $21.54 billion in March, as compared to $15.31 billion a year earlier.
However, merchandise exports during the financial year 2024–25 remained flat at $437.42 billion as compared to $437.07 billion during the same period a year earlier.
Total exports—merchandise and services—stood at $820 billion, as compared with $778 billion during FY25, Commerce Ministry data showed.
Commerce secretary Sunil Barthwal said FY25 was a difficult year for trade, with geopolitical tensions, sea routes getting impacted, and countries affected by recession. “India, however, has done better than other countries,” Barthwal told reporters in a briefing.
The outlook for India’s merchandise exports, however, is uncertain due to the looming threat of reciprocal tariffs that the United States (US) has been planning. The US has already slapped a 25 per cent duty on steel, aluminium, and automobile imports.
With the US now imposing a 10 per cent import tariff on all its trade partners except China, American buyers are asking Indian sellers to absorb one-third to half of the additional tariff imposed. Exporters feel that the outlook for fresh orders remains uncertain.
