Blitz Bureau
NEW DELHI: India’s merchandise exports rose to $38.51 billion in December from $38.13 billion in November despite the uncertainties in the global market triggered by the US tariff turmoil and geopolitical tensions, according to data released by the Ministry of Commerce on January 15. The Government data showed December services exports were estimated at $35.50 billion and imports at $17.38 billion, suggesting a services trade surplus of $18.12 billion.
However, merchandise imports rose to $63.55 billion from $62.66 billion, which led to a marginal widening of the merchandise trade deficit to $25.04 billion.
Commerce Secretary Rajesh Agrawal said that India’s overall exports have risen by 4.33 per cent in the first nine months of the current financial year, and total exports for FY26 are set to touch the $850 billion mark. In addition, India’s exports to the US increased 9.8 per cent during April-December of FY26 compared to the same period of the previous year.
As part of the strategy to diversify exports, India is forging new trade partnerships with friendly countries, while talks with the US to resolve the tariff deadlock are also ongoing. Commerce Minister Piyush Goyal had listed the trade talks with the EU in Brussels and the rollout of the Export Promotion Mission in a round-up of “major highlights” from his Ministry in the last 10 days.
“Held a productive dialogue with the European Union Trade and Economic Security Commissioner, Mr Maros Sefcovic, in Brussels. We conducted detailed deliberations on key areas of the proposed India-EU FTA. Also emphasised the strategic importance of concluding a fair, balanced, and ambitious agreement that aligns with their shared values, economic priorities, and commitment to a rules-based trading framework,” the minister said.