India reported a 6.74 percent rise in exports, reaching $36.38 billion in September, while imports surged by 16.6 percent, resulting in a trade deficit of $31.15 billion, the highest in over a year. The rise in imports, which hit $68.53 billion compared to $58.74 billion in the same month last year, was driven by increased shipments of gold, fertilizer, and silver, according to official data released on Wednesday. From April to September, exports rose by 3.02 percent to $220.12 billion, and imports increased by 4.53 percent to $375.11 billion, leading to a cumulative trade deficit of $154.99 billion. During a media briefing, Commerce Secretary Rajesh Agrawal stated that despite global economic challenges, India’s goods and services exports are performing well.
He attributed the growth in shipments to the resilience of the domestic industry, which is effectively maintaining its supply chains and business relationships. Regarding the 50 percent tariff imposed by the US on Indian goods, he mentioned that the ministry is analyzing commodity-specific data to evaluate the impact. Notably, 45 percent of India’s exports to the US remain unaffected by the high tariffs, while 55 percent of products are subject to the 50 percent duties.
