India trade deficit widens to $41.68b in Oct, gold imports surge 200% says Govt.
By Anjlai Sharma
WASHINGTON – The Commerce Ministry said on Monday that India merchandise trade deficit widened to USD 41.68 billion in October from USD 32.15 billion in September.
India’s exports fell by 11.8 per cent to USD 34.38 billion, according to the data released by the Commerce Ministry. The imports rose sharply by 16.63 per cent to USD 76.06 billion.
The surge in imports was driven by a spike in gold and silver shipments. Gold imports alone soared to USD 14.72 billion in October, compared with USD 4.92 billion during the same period last year, it said.
As per the government data, in October, gold imports registered a growth of 199.2 per cent to USD 14.7 billion against USD 4.9 billion in the year-ago period, while exports to the US slipped about 9 per cent to USD 6.3 billion last month compared to USD 6.9 billion.
The services exports are expected to rise from USD 34.41 billion in October 2024 to USD 38.52 billion in October 2025, while imports in the category are seen increased to USD 18.64 billion in the reported period from USD 17.23 billion in the same period last year.
Non-petroleum and non-gems & jewelry exports in October 2025 were USD 28.14 billion compared to USD 31.32 billion in October 2024, while the imports in October 2025 were USD 42.78 billion compared to USD 39.58 billion in October 2024.
Commerce Secretary Rajesh Agrawal noted that the exports to the United States also declined, dropping to USD 6.3 billion in October from USD 6.9 billion a year earlier.
“Overall exports (merchandise and services) for the first seven months of the current fiscal have seen a growth of 4.84 per cent despite global turmoil in the trade space. In merchandise, growth has been limited to 0.63 per cent in the first seven months of the current fiscal,” Agarwal added.
