Merchandise exports stay flat in February, Commerce Secretary warns of dip in March
The Hindu
India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.
India’s trade balance stood at a deficit of around $4 billion in February 2026, compared with a surplus of $2.7 billion in February last year, due in large part to Indian merchandise exports remaining flat while imports of both merchandise and services grew significantly during the month.
While releasing the data, Commerce Secretary Rajesh Agrawal said that India’s exports in March are likely to be impacted by the ongoing conflict in West Asia.
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According to data released by the Ministry of Commerce and Industry on Monday, India’s total exports, including merchandise and services, grew 11% to $76.1 billion in February 2026. Total imports, however, grew 21.7% to $80.1 billion.
Within this, merchandise imports widened their gap over exports. Merchandise exports remained largely flat at $36.6 billion in February 2026 compared with $36.9 billion in February last year. Merchandise imports, on the other hand, grew 24.2% to $63.7 billion over this period.
Mr. Agrawal said that this situation is likely to worsen in March 2026 due to the ongoing crisis in West Asia.
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