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India sees dip in merchandise exports in March amid West Asia conflict

16 Apr 2026 Evaluate

The commerce ministry in its latest data has showed that India’s merchandise exports slipped marginally by 7.44 per cent to $38.92 billion in March 2026 as compared to $42.05 billion in the same month last year, due to ongoing logistical disruptions arising from the West Asia crisis. Merchandise imports also decreased by 6.51 per cent to $59.59 billion in March 2026 from $63.74 billion recorded a year ago. As a result, trade deficit (difference between imports and exports) narrowed sharply to $20.67 billion in March 2026, down from $27.1 billion in February 2026 and $21.69 billion a year earlier.  

According to the data, merchandise exports during FY 2025-26 (April-March) were $441.78 billion as compared to $437.70 billion during FY 2024-25. Merchandise imports during FY 2025-26 were $ 774.98 billion as compared to $721.20 billion during FY 2024-25. Merchandise trade deficit during FY 2025-26 was $333.19 billion as compared to $283.50 billion during FY 2024-25.  

It further showed that non-petroleum and non-gems & jewellery exports in March 2026 were $31.69 billion compared to $34.25 billion in March 2025. Non-petroleum and non-gems & jewellery exports in FY 2025-26 were $359.67 billion, compared to $344.50 billion in FY 2024-25. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in March 2026 were $41.87 billion compared to $37.99 billion in March 2025. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in FY 2025-26 were $498.56 billion, compared to $454.59 billion in FY 2024-25. 


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