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India's trade deficit hit $34.68 billion in January 2026, fueled by a 19% import surge, despite a new U.S. trade deal cutting tariffs on Indian exports.
India’s merchandise trade deficit widened to $34.68 billion in January 2026, the highest in three months, driven by a 19% year-on-year surge in imports to $71.24 billion, primarily due to higher gold and silver purchases.
Exports rose slightly to $36.56 billion, with shipments to the U.S. declining.
A new India-U.S. trade agreement reduced tariffs on billions in Indian exports, cutting rates from 50% to 18% for some goods and granting zero duty on others, aiming to boost competitiveness.
Despite a growing trade gap, officials project total exports could exceed $860 billion for the fiscal year.
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El déficit comercial de la India alcanzó los 34.68 mil millones de dólares en enero de 2026, impulsado por un aumento del 19% en las importaciones, a pesar de un nuevo acuerdo comercial de los Estados Unidos que reduce los aranceles a las exportaciones indias.