Feb Trade Data: India’s Trade Deficit Widens As Imports Surge | Exports Dip Slightly

India’s latest trade data shows a widening trade deficit as imports surged sharply in February. According to the government, exports declined 0.8% year-on-year to $36.6 billion, while imports rose 24% to $63.7 billion, driven largely by higher gold and silver imports. The widening gap pushed the trade deficit significantly higher compared to last year. Officials also said India will continue discussions with the United States on a proposed trade agreement, but the government is waiting for Washington to finalize its new tariff structure. Engagements between India and the US are ongoing on issues such as non-tariff barriers and tariffs on sectors like steel. While a deal was earlier expected soon, authorities say there is currently no fixed timeline for signing the agreement.