India’s trade deficit eases marginally to $21 billion in March amid West Asia crisis; goods exports up by 1% in FY26

What Happened

India's goods trade deficit eased to $20.67 billion in March from $21.69 billion year-over-year. Exports fell 7.4% to $38.92 billion while imports declined 6.9% to $59.59 billion. West Asia crisis caused exports to that region to drop 57.95% and imports by 51.64%. Monthly exports to West Asia fell from $6 billion to $3.5 billion. FY26 goods exports rose 1% to $441 billion despite trade challenges.

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