Overview
- The merchandise trade deficit fell to $24.53 billion in November from October’s record $41.68 billion, beating a Reuters forecast of about $32 billion.
- Imports dipped 1.88% to $62.66 billion as gold purchases slid roughly 59% to $4 billion and crude oil imports declined 11.27%, easing the overall bill.
- Goods exports rose 19.37% year on year, led by engineering, electronics, gems and jewellery, pharmaceuticals and petroleum products.
- Shipments to the United States increased 22.6% to $6.98 billion despite 50% tariffs, while exports to China climbed to $2.2 billion, reflecting broader market gains.
- Services exports were estimated at $35.86 billion with a surplus near $17.9 billion, and the government said guidelines for a Rs 25,060 crore Export Promotion Mission are being finalised as trade talks with the U.S. continue.