Lower imports narrow trade gap

Falling deficit A fall in imports amid global trade uncertainties and looming US tariffs narrowed India's trade gap to the smallest in over three years in February.

- Dhirendra Kumar & Rhik Kundu

India's trade gap narrowed sharply to $14.05 billion in February, the lowest in over three years, as imports fell amid global trade uncertainties and looming US tariffs.

Economists had expected the February trade deficit to be $21.65 billion, slightly lower than $22.99 billion in January, according to a Reuters poll.

The latest ministry of commerce and industry data showed that merchandise exports rose slightly to $36.91 billion from $36.43 billion in January, while goods imports fell to $50.96 billion from $59.42 billion.

The cumulative value of merchandise exports for the April 2024-February 2025 period stayed flat at $395.63 billion.