India's merchandise trade deficit widens to $30.21 billion in September

India's merchandise trade deficit widened to $30.21 billion in September from $26.86 billion in August, according to provisional data released by the commerce ministry on Thursday.

Merchandise exports rose to $44.40 ​billion in September from $43.81 billion in the previous month, while imports increased to $74.61 billion against $70.67 billion in August.

India's merchandise exports jumped 23.04% year-on-year to $44.4 billion in September, while imports rose 8% to $74.61 billion, according to the data.

India's overall exports, including merchandise and services, rose 13.84% year-on-year to $476.20 billion during April–September, the data showed. Imports rose 15.68% to $551.13 billion, widening the trade deficit to $74.93 billion from $58.10 billion.

Merchandise exports during the first six months of FY27 rose 18.51% to $259.89 billion in the corresponding period of FY26. Imports increased 16.31% to $437.53 billion from $376.17 billion, taking the merchandise trade deficit to $177.64 billion, compared with $156.87 billion a year earlier.

Services exports were pegged at $216.31 billion during April–September 2026, up 8.69% from $199.02 billion in the year-ago period. Services imports increased 13.32% to $113.60 billion from $100.24 billion.

The ministry said India's overall exports reached record levels in both the first and second quarters of FY27. Exports stood at $233.6 billion during April–June and $242.6 billion during July–September, the highest recorded for the respective quarters.

The US remained India's largest merchandise export destination during April–September, with shipments rising to $50.81 billion from $45.73 billion a year earlier. Exports to China increased to $11.41 billion from $8.39 billion, while shipments to Singapore more than doubled to $11.07 billion from $5.45 billion.

Meanwhile, China remained India's largest source, with imports increasing to $80.35 billion from $62.86 billion. Imports from Russia rose to $47.29 billion from $31.12 billion, while those from the United States increased to $32.33 billion from $25.66 billion.

Gold imports declined 27.32% to $19.27 billion during April–September from $26.51 billion in the corresponding period last year. In September alone, gold imports stood at $1.80 billion, compared with $9.61 billion a year earlier.

Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.

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