India said on Monday that bilateral merchandise trade with the United States has increased by about 8% to more than $106 billion in the ten months through January and a proposed trade pact between the two countries will further benefit both.

India’s merchandise trade deficit rose to a two-month high of $22.99 billion in January on the back of higher imports. Economists had expected the January trade deficit to be $22.35 billion, according to a Reuters poll.

India's merchandise trade deficit in January stood at $22.99 billion, according to a Reuters calculation based on export and import data released by the government on Monday. Economists had expected the January trade deficit to be $22.

India’s exports witnessed a 6.03 percent growth during April-December 2024, reaching an estimated $602.64 billion, compared to $568.36 billion in the same period of 2023.

India's overall exports, comprising both merchandise and services, rose to USD 74.97 billion in January 2025, marking an increase from USD 68.33 billion in January 2024, according to data released by the Commerce Ministry.