Merchandise trade deficit rises 30.37% to $32.15 billion: Exports up 6.75%, imports surge 16.7% in September

India’s merchandise exports saw a 6.75% rise in September 2025, reaching $36.38 billion. However, imports surged by 16.7% to $68.53 billion, primarily driven by gold, silver, fertilizers, and electronics. This widened the merchandise trade deficit to $32.15 billion. Overall, total exports grew slightly, but imports significantly increased, impacting the combined trade deficit.