New Delhi

India’s merchandise exports declined marginally by 0.81 per cent to USD 36.61 billion in February, according to government data released on Monday.

Imports, however, rose sharply by 24.11 per cent to USD 63.71 billion, compared with USD 51.33 billion in the same month last year.

With imports rising faster than exports, the country’s trade deficit widened to USD 27.1 billion during the month.

Briefing the media, Rajesh Agrawal said exports were holding up well despite global challenges.

He said exports during the April–February period of FY2025-26 increased 1.84 per cent to USD 402.93 billion.

Imports during the same period also rose 8.53 per cent to USD 713.53 billion, reflecting higher domestic demand and global price movements.

Agrawal cautioned that exports in March may witness a downward trend due to logistical disruptions linked to the ongoing tensions in West Asia.

The crisis, which began on February 28 following military actions by the United States and Israel against Iran, has disrupted major global shipping routes, particularly the Strait of Hormuz.

On the proposed India–US trade agreement, Agrawal said the final signing would take place once a new tariff architecture is in place.

READ MORE: An officer can't afford to go wrong, says top cop Ajeetha Begum

“We are talking right now on the details with the US,” he said, adding that both sides had recently agreed on a framework for the trade pact.