India's trade deficit widens to $10.38 billion in January
Business
India's exports—goods and services together—jumped to $80.45 billion this January, up 13% from last year.
But imports grew even faster, hitting $90.83 billion, so the trade gap widened to $10.38 billion.
Services exports saw a significant jump
While goods exports barely budged, services soared to nearly $44 billion.
Imports of gold and silver also rose, partly due to higher unit prices, sending the merchandise deficit to $34.68 billion.
Total exports from April to January
From April through January, total exports reached $720.76 billion—a 6% rise over last year—with exports to the US also rising.
The Commerce Ministry is aiming for an ambitious $860 billion in exports this fiscal year (2025-26), hoping this upward trend keeps rolling.