India's trade deficit $119.3 billion 2025-26 driven by import surge
Business
India's trade deficit jumped to $119.3 billion in 2025-26, up from $94.6 billion last year, making it the second-biggest gap in over a decade.
The main reason? Imports shot up by 6.4%, especially for gold and silver, while exports grew more slowly.
India's electronics and engineering exports rise
Electronics and engineering goods were bright spots for exports, with countries like China, Spain, and the US buying more Indian products.
But trade with West Asia took a big hit this March due to regional tensions, causing both exports and imports to drop sharply there.
Looking ahead, India is gearing up for new trade deals (including one with the UK by May 2026), which could help balance things out in the future.