India’s Trade Deficit Widens in March as Imports Surge

India exported goods worth $41.97 billion in March, more than the $36.91 billion it exported in February. This shows a rise in trade activity.

However, imports went up even more to $63.51 billion from $50.96 billion. Because of this, India’s trade deficit grew to $21.54 billion in March, compared to $14.05 billion the month before.India’s total goods exports for the financial year stood at $437.42 billion, while imports were significantly higher at $720.24 billion, according to data from the Trade Ministry.

India’s total goods exports for the financial year stood at $437.42 billion, while imports were significantly higher at $720.24 billion, according to data from the Trade Ministry.

According to the Trade Ministry, India imported goods worth $4.4 billion in gold during March. Oil imports during the same month stood much higher at $19 billion.