New Delhi, Nov 17 (UNI) India’s merchandise trade deficit widened to $41.68 billion in October from $32.15 billion in September, the commerce ministry said.
In October, India’s exports fell by 11.8% to $34.38 billion, according to the data released by the Ministry. However, imports rose sharply by 16.63% to $76.06 billion.
The surge in imports was driven by a spike in gold and silver shipments. Gold imports alone soared to $14.72 billion in October, compared with $4.92 billion during the same period last year.
As per the government data, in October, gold imports registered a growth of 199.2% to $14.7 billion against $4.9 billion in the year-ago period, while exports to the US slipped about 9% to $6.3 billion last month compared to $6.9 billion.
Further, the services exports are expected to rise from $34.41 billion in October 2024 to $38.52 billion in October 2025, while imports in the category are seen increasing to $18.64 billion in the reported period from $17.23 billion in the same period last year.
Non-petroleum and non-gems & jewellery exports in October 2025 were US$ 28.14 billion compared to US$ 31.32 billion in October 2024, while the imports in October 2025 were US$ 42.78 billion compared to US$ 39.58 billion in October 2024.
Commerce Secretary Rajesh Agrawal noted that the exports to the United States also declined, dropping to $6.3 billion in October from $6.9 billion a year earlier.
“Overall exports (merchandise and services) for the first seven months of the current fiscal have seen a growth of 4.84 per cent despite global turmoil in the trade space. In merchandise, growth has been limited at 0.63% growth in the first seven months of the current fiscal,” Agarwal said.
