The record
Written from the 1 report below. Nothing here is unsourced.
- India's merchandise exports rose 26% to $43.81 billion in August 2026, outpacing import growth of 14.1% for the first time.
- Merchandise imports stood at $70.67 billion in August 2026, up from $61.96 billion a year earlier.
- Gold imports plunged nearly 58% to $2.3 billion after the government raised customs duty on precious metals to 15% and the Prime Minister urged people to postpone gold purchases.
- The overall goods and services trade deficit narrowed to $9.41 billion in August 2026 from $11.62 billion in August 2025.
- The improvement matters because exports are holding up despite global headwinds, though the cumulative trade gap for the first five months remains higher than last year.
What to watch next
- The India-New Zealand free trade agreement is expected to be operational next month.
- India and Canada have finalised two chapters of a proposed Comprehensive Economic Partnership Agreement, with negotiators currently in New Delhi.
- India and the European Union expect to sign an FTA deal by the end of the year or earlier.
Who said what2
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Rajesh Agrawal
commerce secretary
2 quotes · 1 outlet
“Export growth momentum [has] accelerated further in August.”
In the article
…like gold. Export growth accelerates further in August Stating that India’s export growth momentum has been strong in the first four months of the current financial year, commerce secretary Rajesh Agrawal said: “ Export growth momentum [has] accelerated further in August. ” Cumulative trade data of both merchandise and services showed that exports in the first quarter (April-June) of 2026-27 “climbed by over 13% to $236.28 billion,” he said. Overall growth of exports (goods and services…
“And overall [goods and services] trade deficit, if you look at, it is $9.41 billion [in August 2026] as compared to $11.62 billion [in August] last year. So, overall trade deficit has also gone down substantially,”
In the article
…imports in August 2026, has been at $70.67 billion as compared to $ 61.96 billion in the same month last year. “That means a growth of 14.1%... First time you will see, this is lower than the export growth,” he added. “ And overall [goods and services] trade deficit, if you look at, it is $9.41 billion [in August 2026] as compared to $11.62 billion [in August] last year. So, overall trade deficit has also gone down substantially, ” he said. Also read: India, others face 100% US tariffs as House advances Russia sanctions bill; final vote tomorrow Gold imports plunge nearly 58% in August According to experts, one of the reasons for narrowing of…
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Named India · Australia · United Arab Emirates · United Kingdom · New Zealand · Canada · European Union · Ministry of Commerce and Industry · Narendra Modi · Rajesh Agrawal · Reserve Bank of India
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