Merchandise Exports Face Challenges Amid Global Tensions

The country's merchandise exports decreased slightly by 0.81% to USD 36.61 billion in February, while imports rose by 24.11% to USD 63.71 billion. The trade deficit reached USD 27.1 billion. Despite ongoing negotiations, logistics challenges due to the West Asia crisis may affect future export figures.

The country's merchandise exports took a minor hit, falling by 0.81% to USD 36.61 billion in February, according to recent government data.

Conversely, imports surged by 24.11% to USD 63.71 billion, resulting in a trade deficit of USD 27.1 billion for the month. Commerce Secretary Rajesh Agrawal highlighted the resilience of exports amid challenging circumstances.

However, the West Asia crisis, marked by US and Israeli military actions against Iran, disrupted key trade routes and may impact exports in March. Meanwhile, India and the US are in talks on a new trade deal, pending tariff adjustments.

(With inputs from agencies.)