India's merchandise exports rose to $38.51 billion in December from $38.13 billion in November despite the uncertainties in the global market triggered by US tariff turmoil and geopolitical tensions
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NEW DELHI — India's merchandise exports rose to $38.51 billion in December from $38.13 billion in November despite the uncertainties in the global market triggered by the US tariff turmoil and geopolitical tensions, according to data released by the Ministry of Commerce on Thursday.
The government data showed December services exports were estimated at $35.50 billion and imports at $17.38 billion, suggesting a services trade surplus of $18.12 billion.
However, merchandise imports rose to $63.55 billion from $62.66 billion, which led to a marginal widening of the merchandise trade deficit to $25.04 billion.
Commerce Secretary Rajesh Agrawal said that India’s overall exports have risen by 4.33 per cent in the first nine months of the current financial year, and total exports for FY26 are set to touch the $850 billion mark.
In addition, India's exports to the US increased 9.8 per cent during April-December of FY26 compared to the same period of the previous year.
As part of the strategy to diversify exports, India is forging new trade partnerships with friendly countries, while talks with the US to resolve the tariff deadlock are also ongoing.
Commerce Minister Piyush Goyal on Tuesday listed the trade talks with the EU in Brussels and the rollout of the Export Promotion Mission in a round-up of "major highlights" from his Ministry in the last 10 days.
"Held a productive dialogue with the European Union Trade and Economic Security Commissioner, Mr Maros Sefcovic, in Brussels. We conducted detailed deliberations on key areas of the proposed India-EU FTA. Also emphasised the strategic importance of concluding a fair, balanced, and ambitious agreement that aligns with their shared values, economic priorities, and commitment to a rules-based trading framework," the minister said.
He further stated that he visited Liechtenstein and reviewed the implementation of the India–EFTA Trade and Economic Partnership Agreement.
Besides, the minister highlighted that as part of the initial rollout of the Export Promotion Mission, two key interventions under the NIRYAT PROTSAHAN sub-scheme have been launched to strengthen MSME exports and improve access to trade finance. These interventions will lower the cost of exporting for MSMEs, give them improved cash flow and liquidity, encourage them to explore new export markets, give easier access to bank loans to MSME exporters, make them less dependent on property or asset collateral and boost export growth, especially among small firms.