India's Trade Surplus: Soaring Exports Meet Rising Imports

India's trade figures revealed robust growth in January 2026, as exports climbed by 13.16% year-on-year, amounting to USD 80.45 billion. However, imports outpaced this growth, increasing by 18.77% to USD 90.83 billion, widening the trade deficit to USD 10.38 billion, according to data from the Commerce Ministry.

For the first 10 months of the fiscal year, the cumulative value of India's exports, covering both merchandise and services, stood at USD 720.76 billion, marking a 6.15% increase over the previous year's period. Commerce Secretary Rajesh Agrawal expressed optimism in exceeding USD 860 billion in total exports for the year.

In the financial year 2024-25, India's exports reached an all-time high of USD 824.9 billion, a 6.01% growth from the preceding year. This surpassed the initial forecast of USD 800 billion. With imports also rising by 6.54% in the year to January, India continues to experience a dynamic trade landscape.