India's total exports, encompassing both merchandise and services, increased by 13.17 percent year-on-year to $80.45 billion in January this year, compared to $71.09 billion in January last year. According to data released by the Ministry of Commerce, overall imports during the month grew at a faster pace of 18.76 percent, rising to $90.83 billion from $76.48 billion in January 2025. As a result, India's overall trade deficit, encompassing both merchandise and services, widened to $10.38 billion in January 2026, nearly doubling from $5.39 billion in the corresponding month last year.
In January, both merchandise and services exports and imports increased. Merchandise exports rose from $36.34 billion to $36.56 billion, while services exports rose from $34.75 billion to $43.90 billion.
