India\u2019s trade deficit widened in March, even as policymakers and exporters in the South Asian nation scramble to shield themselves from US President Donald Trump\u2019s global tariff war. <\/small><\/p>\n\n\n\n
The gap between exports and imports stood at $21.54 billion last month, the trade data showed Tuesday. This is higher than the $15.5 billion deficit forecast by economists in a Bloomberg survey. The trade deficit in February had narrowed to $14.05 billion, the lowest in more than three years. <\/small><\/p>\n\n\n\n
Exports in March rose 0.7 per cent to $41.97 billion from a year earlier, while imports grew 11.4 per cent to $63.51 billion, the data showed.\u00a0<\/p>\n\n\n\n
The last financial year \u201cwas difficult with so many things happening around the world,\u201d Commerce Secretary Sunil Barthwal told reporters at a press briefing in New Delhi, referring to rising geopolitical tensions. India\u2019s overall exports in the last financial year crossed $820 billion, he added. <\/small><\/p>\n\n\n\n
The reading comes as the South Asian nation rushes to evade the worst of Trump\u2019s trade actions. Indian exporters have been urging New Delhi officials to seal a bilateral trade deal with the US as soon as possible. In February, the two nations had agreed to conclude the first tranche of the pact by fall of this year.<\/p>\n\n\n\n
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