India's trade deficit widens in March 2025 to USD 3.63 billion as against USD 1.92 billion in March 2024

The trade deficit widened to USD 21.54 billion in March, up from a three-year low of USD 14.05 billion in February.

India's India's overall export ( Merchandise & Services) showed steady growth in March 2025, with both exports and imports registering year-on-year increases, according to the government data released on Tuesday.

Official data shows that the total export, which combines merchandise and services, increased to USD 73.61 billion in March 2024, up from USD 71.71 billion in March 2024.

The growth reflects continued resilience in key sectors of the economy.

The data shows a sharper increase on the import front, with overall imports climbing to USD 77.23 billion from USD 73.63 billion a year ago.

While the uptick in trade activity points to strong economic momentum, the growing trade gap highlights the need for continued focus on boosting exports and managing import dependence, particularly in critical sectors.

Talking about the trade data, Commerce Secretary Sunil Barthwal said that the country has seen its highest-ever export of non-petroleum merchandise.

He informed that non-petroleum exports are at the highest level at USD 37.07 billion, a growth of 6.0 per cent compared to 36.28 billion in 2023-24.

"Our Overall exports will be the highest ever, and they have crossed a threshold of USD 820 billion. We will be waiting for the final figures of services, but our internal assessment is that it will go even above by two more billion dollars. So it should be a figure of more than USD 842 billion," Commerce Secretary Sunil Barthwal said.

Last year, it was USD 770 billion, so it is more than USD 42 billion, which is a very good achievement, he said.

"A recent assessment highlighted the risk of merchandise dumping into India due to reciprocal tariffs amid the trade tensions. Rising US costs may prompt exporters from countries like China, Vietnam, and Indonesia, all facing US trade deficits--to divert goods to India, potentially triggering import surge Products at risk of being dumped in India," the Commerce Secretary said.

In the context of US tariffs, Barthwal said that an Inter-Ministerial Committee for import surge monitoring has been set up with representation from DoC, DGFT, CBIC and DPIIT.

He further added that an Inter-Ministerial Committee (IMC) is monitoring weekly as well as monthly import trends by commodities and by countries.