The Ministry of Commerce released figures Thursday that showed India’s overall exports, including services, climbed 10.99% to $80.75 billion in September, up from $72.76 billion a year earlier. Imports rose to $94.05 billion from $86.93 billion, leaving a combined trade deficit of $13.30 billion.
Rajesh Agrawal highlighted that electronics, petroleum, engineering, chemicals and agricultural products pushed the $44.40 billion merchandise export total higher. He added that the second‑quarter export growth rate of 15.84% outpaced the 11.84% seen in the first quarter, marking a record high for the July‑September period.
In a press briefing, Agrawal said the India‑US trade agreement talks are "in the right direction" and that a final signing could happen "at the earliest possible time", contingent on the U.S. tariff framework under Section 301. The U.S. import bill rose 26% to $32.33 billion, tightening the U.S. surplus with India to $18.48 billion.
India is also pushing a new trade pact with New Zealand that kicks in next week and a broader EU agreement that is nearing implementation. A small textile firm in Coimbatore said the increasing exports of engineered fabrics to the U.S. have allowed it to hire two more workers amid the trade‑deficit improvement.