Goods Trade Deficit Widens in March, Surplus With US Grows

India's trade surplus with the US rose to $41.18 billion in FY25 from $35.32 billion a year ago

- Dhirendra Kumar

India's trade surplus with the US jumped 16.6% in the just-ended financial year, ballooning to $41.18 billion in FY25 from $35.32 billion in the previous year, even as President Donald Trump prepared to hike US tariffs as a counter-measure.

According to commerce ministry data released on Tuesday, Indian goods exports to the US in the last financial year increased by 11.6%, from $77.52 billion in FY24 to $86.51 billion in FY25.

To be sure, imports from the US also rose but by a smaller margin of 7.42%, going up from $42.20 billion to $45.33 billion during the fiscal year that ended on 31 March.

Major goods exported to the US included electronic goods, textiles, drugs and pharmaceuticals, engineering goods, gems and jewellery, petroleum products and agricultural products.

Trump raised the tariff on Indian goods exports to 26% on 2 April, complaining of rising US deficit, before announcing a 90-pause on tariff hikes on all countries on 9 April.