India's trade deficit shrank in April-July


India’s overall trade deficit fell 3.7% to $31.3 billion in April–July 2025, as exports grew faster than imports despite global uncertainty. Total exports, including goods and services, rose 5.2% to $277 billion, while imports increased 4.2% to $308.9 billion.

Merchandise exports grew 3.1% to $149.2 billion, but higher merchandise imports widened the goods deficit to $94.8 billion. Falling petroleum prices masked stronger growth in non-petroleum exports.

Services remained the bright spot, with exports surging 7.9% to $128.4 billion and imports staying flat. This surplus helped offset merchandise trade pressures, underlining India’s resilience in an unpredictable global market.

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