India’s trade deficit swells to $22.99 billion in January 2025, up 24.85% YoY

India’s trade deficit for January 2025 surged to $22.99 billion, up from $16.56 billion in the same period last year. This marked a 24.85% increase on a year-on-year (YoY) basis. The cumulative trade deficit from April 2024 to January 2025 reached $87.47 billion, up from $70.06 billion during the same period in the previous year.CompanyValueChange%ChangeExports decreased to $36.43 billion in the current month from $37.32 billion in January 2024, while imports jumped to $59.42 billion, reflecting a significant rise from $37.32 billion in the previous year.
On a cumulative basis, exports saw a 7.21% year-on-year growth, amounting to an additional $46 billion between April 2024 and January 2025. Notably, non-petroleum exports rose by 14.47% during this period, driven by a sharp 78.97% increase in the export of electronic goods and a 21.46% rise in pharmaceuticals. The gems and jewellery sector also saw encouraging growth despite global challenges, offering signs of resilience in India’s export performance.Also Read: FM Sitharaman emphasises fiscal deficit reduction, capex push in post-Budget speech
As part of the Union Budget 2025, the government has emphasised exports as one of the four key engines of growth. The newly launched Export Promotion Mission will focus on boosting exports with a range of schemes aimed at new exporters, untapped markets, and innovative products.Furthermore, the Mission aims to address the significant non-tariff barriers that MSMEs face, which have often hindered their ability to compete globally. The integration of Bharat Trade Net is expected to bring transformative changes, much like UPI’s impact on digital payments in India, making export processes smoother and more efficient.First Published: Feb 17, 2025 2:56 PM IST

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